Trading App eToro to Limit Crypto Offerings in SEC Settlement

Trading platform eToro will stop offering trading in nearly all types of crypto assets as part of a settlement with the U.S. Securities and Exchange Commission.

The settlement comes amid broader SEC scrutiny of retail stock trading apps that offer crypto services. Robinhood, for example, in May got a warning from the SEC about potential enforcement action over its crypto offerings.

eToro agreed to pay $1.5 million to settle SEC claims it operated an unregistered broker and clearing agency for facilitating trading of crypto assets that the regulator deemed as securities. It neither admitted nor denied the SEC’s findings. Going forward, the only crypto assets that U.S. customers can trade on eToro will be bitcoin, bitcoin cash, and ether.