eToro to Halt Most Crypto Trading in SEC Settlement

The platform will limit U.S. users to Bitcoin, Bitcoin Cash, and Ethereum following a $1.5 million fine for operating as an unregistered broker.

eToro has agreed to cease trading in nearly all cryptocurrencies for U.S. users, as part of a settlement with the SEC.
The SEC charged eToro with operating as an unregistered broker and clearing agency, facilitating the trade of crypto assets deemed securities.
U.S. users will only be able to trade Bitcoin, Bitcoin Cash, and Ethereum; all other crypto positions will be liquidated by mid-March 2025.
eToro will pay $1.5 million in penalties but did not admit or deny the SEC's findings.
This settlement marks a significant regulatory stance by the SEC, clarifying that Bitcoin, Bitcoin Cash, and Ethereum are considered commodities, not securities.