eToro receives Cyprus registration ahead of MiCa rollout

Cyprus granted eToro crypto registration, setting the groundwork for the company to operate crypto services post-MiCa rollout


leoks/Shutterstock modified by Blockworks


eToro received Crypto Asset Service Provider registration from the Cyprus Securities and Exchange Commission on Thursday.

The social trading app, which offers both crypto and traditional stocks, is preparing for the European Union’s Markets in Crypto Assets framework to come into effect.

MiCa passed the EU parliament back in April with overwhelming support for the regulatory framework, which aims to enforce clearer crypto regulation.

The Cyprus registration will allow eToro to offer crypto services throughout the EU on a “cross-border basis from one single entity.” MiCa is expected to come into effect in December 2024.

eToro’s deputy CEO, Hedva Ber, said that the Cyprus registration “signals that we are 100% ready to embrace a new era for crypto once MiCa comes into effect next year.”

Read more: EU Parliament passes MiCA by 13:1 margin

“This new CySEC registration will make it much easier for us to achieve this in a post-MiCA Europe, allowing us to create a more streamlined and efficient offering for European investors who want to trade with crypto assets,” Ber added. 

Earlier this summer, Binance’s Cyprus unit applied to be removed from the register of crypto asset service providers. At the time, the crypto exchange said that this decision was in line with its efforts to comply with MiCA, emphasizing a focus on “fewer regulated entities in the EU.”

Binance also withdrew its BaFin application “proactively” in July.

BaFin’s Rupert Schaefer has since published a blog post on the crypto markets, praising the MiCa framework and noting that this opens the door for more “technical standards.” 

“As financial regulators, we are sitting in the tower. We must know their characteristics, understand them, know their route and intervene if necessary…Market participants can then also benefit from distributed ledger technology (DLT) in the long term,” he wrote.

Don’t miss the next big story – join our free daily newsletter.


Upcoming Events

Hilton Metropole | 225 Edgware Rd, London

MON - WED, MARCH 18 - 20, 2024

Crypto’s premier institutional conference returns to London in March 2024. The DAS: London Experience:  Attend expert-led panel discussions and fireside chats  Hear the latest developments regarding the crypto and digital asset regulatory environment directly from policymakers and experts   Grow your network […]

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research



Akash is a general-purpose compute platform with GPUs, storage, LLM training or inference, and validator hosting through its two-sided marketplace.


The SEC could allow half a dozen or more such funds to launch at once, Ark Invest CEO says


2023 saw a decline in a16z crypto funding, but the behemoth VC firm teased what it’s excited for next year


“Iran Unchained” launched a new version of its grant platform to make donations to activists easier


The stablecoin marks the first time a regulated European bank has made a euro-pegged stablecoin available on a crypto exchange


Build it and they will come, perhaps, but making crypto easier to use is turning out to be just as important


Amid moves by Itau Unibanco and Nubank, the country could serve as “a proof of concept” for TradFi-crypto integrations, industry research exec says