Overview
- eToro obtained a New York BitLicense and a money transmitter license, allowing crypto trading for state residents and expanding its service to 48 states.
- The approvals follow a 2024 SEC settlement that included a $1.5 million penalty and a cut to the U.S. token list as the firm rebuilt its controls.
- New Yorkers can now trade cryptocurrencies in the same eToro app used for stocks, ETFs, and options, with access the company says could reach more than nine million residents.
- eToro reported $17.6 billion in assets under administration and 3.9 million funded accounts, showing year-over-year growth in balances and users.
- New York’s BitLicense is among the toughest state crypto rules, so the green light points to stronger compliance at eToro and offers a model for post-enforcement re-entry.