eToro settles with SEC, will shut down nearly all crypto trading

Digital-trading platform eToro USA has agreed to pay a $1.5m fine and limit its crypto offerings to just three tokens, as part of a settlement with the SEC. The company had been charged with operating an unregistered brokerage and clearing agency related to its crypto trading platform. Its U.S. customers will only be able to trade Bitcoin, Bitcoin Cash and Ether tokens, and have up to 180 days to sell their other crypto assets. “By removing tokens offered as investment contracts from its platform, eToro has chosen to come into compliance and operate within our established regulatory framework,” said Gurbir Grewal, director of the SEC’s division of enforcement. “This resolution not only enhances investor protection, but also offers a pathway for other crypto intermediaries.”