The crypto and stocks trading platform eToro has received a regulatory green light from the European Union (EU) as more crypto firms expand into Europe.

Amid the US crackdown, Europe has become a popular destination for crypto firms. Many firms, including eToro, Galaxy Digital, and Ark Invest, have announced expansion into Europe.

eToro Latest to Offer Crypto Trading Services

According to Finextra, eToro has registered itself as a Crypto Assets Service Provider (CASP) with the Cyprus Securities and Exchange Commission (CySEC).

Europe’s Market in Crypto-Assets (MiCA) legislation received unanimous approval from all the bloc countries in May 2023. The legislation will come into force from July 2024, and eToro will be able to offer its services to all EU countries through a single entity. 

Dr Hedva Ber, the deputy CEO at eToro, said:

“Europe is a hugely important region for eToro, it’s where the majority of our users are based, and we want to continue offering to European investors direct access to a wide range of crypto assets as part of a diversified portfolio.”

Click here to read our comprehensive guide on eToro

Galaxy Digital Expands

eToro is not the only firm targeting the European market. According to the Financial Times, Galaxy Digital is expanding to the European market as it looks for a more friendly market after the US crackdown. The company first hinted at plans to shift its operations away from the US market in May 2023.

Galaxy Digital offers a wide range of services around the crypto ecosyst

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Author: Harsh Notariya

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