Philippines SEC Moves on eToro, Says Platform Offers Unregistered Securities
Despite eToro’s giant status and popularity, the Philippine finance regulator would not allow unregulated crypto business.
Founder and CEO of eToro Yoni Assia joins COLU’s board of directors. while Patrick Murck, executive director of the Bitcoin Foundation, joins the board of advisors of BTCJam.
Despite eToro’s giant status and popularity, the Philippine finance regulator would not allow unregulated crypto business.
The CEO noted that beyond the eToro IPO, the firm has prioritized product enhancements in 2023, focusing on advanced trading experiences and technical analysis features for its user base.
Two years ago, crypto advertisers occupied the top ad spots at Super Bowl. But the FTX debacle has pushed them out of the game making way for traditional businesses.
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eToro’s foray into the UAE comes amidst a period of global expansion for the platform.
The Netherlands took the lead among European Union member states by mandating that crypto companies adhere to the 5th Anti-Money Laundering Directive (5AMLD).
eToro will be in a position to offer cross-border crypto services after the EU’s Markets in Crypto Assets (MiCA) regulatory framework goes into effect in December 2024.
According to eToro’s website, 77% of retail investor accounts lose money when trading CFDs on the platform.
eToro planned to go public in 2022. However, a market downturn in equity and crypto prices forced the company to abandon its IPO plans.
eToro said that it will continue to empower our Spanish users by providing them with access to a diverse range of asset classes.