EToro said it received regulatory approval under the European Union’s Markets in Crypto-Assets (MiCA) framework and will soon be able to provide cryptocurrency trading and custody services across the region. The trading platform announced the approval from the Cyprus Securities Exchange Commission on Wednesday.
The MiCA regulation that requires firms to acquire a crypto asset service provider license (CASP) took full effect in December and established a standardized legal framework for crypto services across the 27-nation trading bloc. Approval under MiCA also opens the doors to Iceland, Liechtenstein, and Norway which are not EU members.
The company joins crypto exchanges Bitpanda, OKX and Crypto.com among others who have obtained a MiCA license.
Israel-based eToro, which offers a mix of traditional and crypto trading services, is building a global presence. It obtained a license in New York in 2023 and landed on the U.K. crypto register in 2022.
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