eToro confirms its services will remain compliance with regulators amid uncertainty

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eToro hinted that it may suspend investment service for few flagship crypto assets, following SEC’s back-to-back suits against the crypto companies.

eToro is an Israeli social trading and multi-asset investment company that focuses on providing financial services. This company is registered in Israel, UK, US, & Australia. In 2014, this firm first opened its Crypto investment portal for the customers. 

On 8 June 2023, eToro announced that it will remain committed to provide crypto investment services to the customers & always will remain in full compliance with the regulators of the corresponding jurisdictions.

In an interview with Decrypt news media, eToro spokesperson said:

“We remain a supporter of crypto and believe in the importance of offering our users access to a diversified range of asset classes.”

Spokesperson reportedly said that the eToro team will remain in full engagement with the regulators, ahead of the future of the crypto industry, so that ordinary investors can easily access the crypto industry.

In the present time, eToro offers nearly 80 crypto assets, including Cardano (ADA), Polygon (MATIC), Solana (SOL), Alogrand (ALGO), Filecoin (FIL), Decntraland (MANA), and the Sandbox (SAND). 

These crypto assets has been labelled as a security token by the United States Securities Exchange Commission (SEC), in the suits against BinanceUS & Coinbase exchange. 

Notebly, eToro has a team of experts & they will investigate & research to figure out which crypto token investment offerings are securities offerings & which not. 

Following the SEC’s suit, BinanceUS delisted 101 crypto assets trade pairs. In the present time only half a dozen crypto assets are trading on this exchange.

Just a day ago, American crypto & stock platform Robinhood delisted Cardano (ADA), Polygon (Matic), & Solana (Sol). 

Read also: Moody downgrades Coinbase (COIN) rating to negative

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