eToro launches cryptocurrency trading in New York

The trading platform eToro announced the official launch of cryptocurrency trading services in New York, approximately three years after obtaining the BitLicense. The first batch will include about 20 cryptocurrencies, with plans to gradually expand to more tokens and introduce features such as staking.

In contrast, eToro typically offers over 100 cryptocurrencies for trading in other global markets. eToro obtained the BitLicense issued by the New York State Department of Financial Services in February 2023. This license has been strictly regulated since its introduction in 2015, with fewer than 40 institutions approved, and not all licensed companies actually conduct business. The company stated that regulatory scrutiny has significantly increased following the FTX incident, leading to an extended launch timeline.