eToro secures MiCA license in Cyprus

EToro has received regulatory approval under the European Union’s Markets in Crypto-Assets framework. 

This approval allows the company to provide crypto services across all 30 European Economic Area countries. The license was granted by the Cyprus Securities and Exchange Commission.

The broker can now operate under Europe’s unified crypto regulatory system. However, the company must notify each member state before offering services in that jurisdiction.

Avi Sela, eToro’s Chief Operating Officer for Regulation, welcomed MiCA’s introduction, emphasizing its role in enhancing consumer protection and market transparency.

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

eToro, which has over 38 million registered users, first introduced Bitcoin trading in 2013 and now offers more than 100 cryptoassets. The company also operates under the Markets in Financial Instruments Directive, ensuring additional regulatory oversight.

The approval follows eToro’s recent achievement of SOC 2 Type II Compliance Certification, which affirms its security and operational standards in crypto asset custody.

The MiCA framework, which took full effect in December, requires firms to obtain a Crypto Asset Service Provider license. It establishes a standardized regulatory environment across the EU, Iceland, Liechtenstein, and Norway.

With this authorization, eToro joins exchanges such as Bitpanda, OKX, and Crypto.com in securing a MiCA license.