eToro secures MiCA license in Cyprus

Etoro received regulatory approval within the framework of the European Union markets in Crypto-Asets.

This approval Allows the company to provide cryptography services in the 30 European countries in the economic space. The license was granted by Cyprus Securities and Exchange Commission.

The broker can now operate as part of the unified cryptography regulatory system in Europe. However, the company must inform each Member State before providing services in this jurisdiction.

Avi Sela, chief of the Etoro farm for the regulations, welcomed Mica Introduction, emphasizing its role in improving consumer protection and market transparency.

“We believe that the regulatory clarity and the rules of the uniform market provided by Mica will promote greater adoption of cryptography across Europe while ensuring that consumers are fully aware of the associated risks,” said Sela.

Etoro, which has more than 38 million registered users, introduced Bitcoin trading for the first time in 2013 and now offers more than 100 cryptocurrency. The company also operates under the market on the markets in financial instruments, guaranteeing additional regulatory monitoring.

The approval follows the recent achievement by ETORO of the SOC 2 Type II compliance certification, which affirms its safety and operational standards in custody of the crypto.

The Mica frame, which has taken full effect in December, obliges companies to obtain a license from the provider of cryptographic asset services. It establishes a standardized regulatory environment through the EU, Iceland, Liechtenstein and Norway.

With this authorization, Etoro joins exchanges such as Bitpanda, OKX and Crypto.com in security To the Mica license.