eToro Wins EU Approval for Crypto Trading in Europe
eToro gets EU approval to offer crypto trading as more firms like Galaxy Digital and Ark Invest expand to Europe. Meanwhile, Binance expresses concern over new EU rules on stablecoins.
eToro, a platform for trading crypto and stocks, has got approval from the European Union (EU). This is happening as more crypto companies like Galaxy Digital and Ark Invest are also moving to Europe because of strict rules in the U.S.
eToro is now registered in Cyprus as a Crypto Assets Service Provider (CASP). Starting July 2024, it can offer its services to all EU countries. eToro's deputy CEO, Dr. Hedva Ber, stated that Europe to them is very important as most of their users are there.
Galaxy Digital is also expanding to Europe. The company provides various crypto services, including trading and asset management. Their new European CEO, Leon Marshall, seems very positive about crypto in Europe.
Ark Invest is also aiming at Europe's growing market for exchange-traded funds (ETFs). The company bought Rize ETF Limited, a European ETF issuer, to take advantage of this growth.
It was reported that Binance is worried about new European rules affecting stablecoins. The company warns that it may have to remove stablecoins from its European platform. However, Binance CEO, Changpeng Zhao, said this news might be taken out of context and may be misleading.
