eToro Lawsuit Settles at $1.5 Million Payment and Ceasing Crypto Operations in The US

Sep 13, 2024

eToro Lawsuit Settles

The United States financial regulator keeps its war against crypto exchange platforms and brokers, seeking litigation as the only way to restrict digital asset trading in the United States.

eToro, the famous security and crypto trading platform, is the latest victim of these prosecutions after reaching a settlement to close its case on Thursday, September 12th.

The eToro lawsuit settlement includes paying $1.5 million to the SEC and limiting crypto trading for US investors. Let’s track how this decision will affect the popular platform.

eToro Ceases Operations in The US

On September 12th, eToro announced that it reached a settlement with the United States Securities and Exchange Commission regarding its lawsuit against eToro. The SEC claims that eToro has been engaging in selling unregistered securities and acting as an unregistered broker and clearing agency.

The SEC requires brokerage firms, especially those offering crypto assets, to be registered at the federal registry. However, eToro and multiple other crypto exchanges plea that their offerings do not qualify as a brokerage.

As such, the SEC claims that eToro has been operating as an unregulated broker since 2020, growing wealth from registered securities. The agency says that with this step, the exchange will stop violating the registration provisions of the federal securities law.

The SEC vs. eToro Lawsuit Outcomes

The eToro pending settlement entails the payment of $1.5 million and stopping operations in the US. The agency gave eToro 187 days from the announcement date to liquidate its crypto holdings and transfer digital assets to traders.

As a result, US investors will have access only to Bitcoin, Ethereum, and Bitcoin Cash. The exchange allows its users to cash out their other crypto holdings within 180 days after the eToro settlement time.

However, US users will continue trading other eToro securities, including ETFs, stocks, commodities, and Forex currencies, while non-US traders will have access to 100+ crypto assets.

The Future of eToro

eToro stated that this decision will have “a minimal impact on global business” given the massive offerings across 75 countries, serving over 35 million users.

The crypto regulations in the US have been a hot debate, with a rising grey area when it comes to registered securities and allowed operations regarding digital assets and blockchain-based currencies.

eToro will continue its operations in clearly regulated markets like the newly introduced UK crypto law and EU’s MiCA.

Conclusion

With its ongoing legal battles against crypto exchanges and digital asset brokers, the SEC claims victory over the popular eToro platform. The eToro lawsuit settlement reached between both parties involves the payment of $1.5 million by the broker, who will limit its crypto offerings to US investors.

eToro will now offer only BTC, ETH, and BCH to US traders, in addition to other classic instruments like stocks, options, currencies, and ETFs.

Subscribe Our Newsletter

This Week's Great Offer Stock Reviews Include Kroger, Intuit, Danaher

Milena

This Week’s Great Offer Stock Reviews Include Kroger, Intuit, Danaher, and Others.

The stock and bond markets will be closed on Monday for Labor Day, indicating possible great offer stock reviews.

Companies
10 Cheap Stocks for Volatile Markets
10 Cheap Stocks for Volatile Markets

Value investing is making a return and may outperform growth techniques if markets stay volatile. This is because low values might provide investors with a margin of safety.

Stocks
Get the ultimate solution: B2BinPay Get the ultimate solution: B2BinPay
Sponsored
Oliver

How to Accept Crypto Payments as a Business
During COVID-19 pandemic, global cryptocurrency usage reached an astonishing half a billion users. Due to this fact, many businesses, entrepreneurs, and even major institutions have begun to explore how to accept cryptocurrency payments.

discover
5 Best AI ETFs

Alexander

5 Best AI ETFs for 2023-2024

In today's fast-paced world of technology, there is one phenomenon that is capturing global attention – Artificial Intelligence (AI). With its ever-growing capabilities and potential, AI is quickly becoming a driving force in various industries, from healthcare to finance, transportation, and more.

Investing
Contact us bg

Contact Us

Contact the Liquidity Provider
for any questions and advertising inquiries

    Please fill out this contact form to get in touch with us

    / 3000

    By clicking “Get in touch” button, you agree to the privacy policy

    Successful!
    Thank you for your request.
    We will contact you shortly.
    Close

    Alexander

    Crypto Nodes That Pay: Your 2025 Guide to Top Passive Income Opportunities in Crypto

    crypto nodes that pay

    Alex

    Pi Network: Scam or Groundbreaking Crypto? The Full Analysis

    Pi Network Explained

    Constantine

    Triple Net Lease: Meaning, Benefits, and Strategies Explained

    Triple Net Lease

    Constantine

    Hanging Man Pattern: How to Identify and Trade It Effectively

    Hanging Man Pattern

    Alex

    5 Infinite Banking Mistakes That Could Cost You Thousands

    Infinite Banking Mistakes to Avoid

    Aleksander

    Solana Firedancer: Solving Solana’s Biggest Problems with a New Engine

    Solana Firedancer explained

    Alexander

    What Is an Interest Coverage Ratio? How to Use This Financial Metric to Evaluate Company Health

    Interest Coverage Ratio Explained

    Hazem

    After-Hours Trading: Can You Trade After Financial Markets Close?

    After-Hours Trading Explained

    Alexander

    How to Scale a Crypto Exchange Business and Stay Competitive

    how to scale crypto exchange business

    Constantine

    Crypto CrypticStreet Review: The Future of DeFi and Secure Crypto Trading

    Crypto CrypticStreet Review: The Future of DeFi and Secure Crypto Trading

    Alexander

    Bitcoin Power Law Explained: How It Shapes BTC’s Long-Term Growth

    Bitcoin Power Law Explained: How It Shapes BTC’s Long-Term Growth

    Hazem

    Megaphone Pattern​: What Is It? How to Use It In Trading

    Megaphone Pattern​: How to Read & Trade with It

    Constantine

    Top 5 Liquidity Bridge Providers in DeFi

    Top 5 Liquidity Bridge Providers in DeFi

    Hazem

    Max Funded IUL Explained: Is It a Legitimate Financial Strategy?

    Understanding Max Funded IUL

    Alexander

    Tax Refund Timeline: When Will You Get Your Tax Return?

    how long does it take for tax refund

    Constantine

    Crypto Liquidity — What is it, and How to Measure It?

    What is Crypto Liquidity and How to Measure It?

    Constantine

    AI in Finance: A Game-Changing Trend Shaping the Industry

    AI in Finance

    Hazem

    5 Ways to Make Money with ChatGPT and Build Your Wealth

    Make Money with ChatGPT

    Constantine

    Top AI Companies to Invest in April 2025

    Top AI Companies to Invest in March 2025

    DeepSeek vs ChatGPT: Which AI Technology is Better For You?

    DeepSeek vs ChatGPT: Feature-by-Feature AI Tool Comparison

    Constantine

    Top Solana Meme Coins in 2025: Best Presales and Where to Buy

    Solana Meme Coins 2025

    Alexander

    How Renewable Energy Stocks Can Supercharge Your Portfolio

    How Renewable Energy Stocks Supercharge Your Portfolio

    SEC Crypto Regulations: What Financial Advisors Need to Know

    SEC Crypto Regulations: Insights for Financial Advisors

    Hazem

    The Cup and Handle Pattern – How Trade Using This Bullish Indicator?

    Cup and Handle Pattern – How to Predict Price Breakouts?
    liquidity-provider-logo
    • News
      • Stock Market Forecast
      • Stocks
      • Banks and Finance
      • Companies
      • Crypto
      • Forex
      • AI
      • Technology
      • DeFi
      • NFT
    • Articles
      • Crypto Payments
      • Trading
      • Crypto Exchange Business
      • Forex Business
      • Fintech
      • Liquidity
      • FinTech Awards
      • Blockchain
      • Investing
      • NFT
      • DeFi
    • More
      • Videos
      • Liquidity Providers List
      • Crypto Payment Providers
      • White Label Brokerage Platforms
      • Broker CRM Platforms
    [email protected]

    © 2024 Liquidity Provider. All Rights Reserved

    Privacy Policy Cookie Policy
    This site is registered on wpml.org as a development site. Switch to a production site key to remove this banner.