Etoro said it received legislative approval under the European Union’s markets in the Crypto-Ass (MICA) frames and will soon be able to provide cryptocurrency trade and custody throughout the region. The trading platform announced the approval of the Cyprus Securities Exchange Commission on Wednesday.
The MICA Regulation, which requires companies to acquire a Crypto Asset Service Provider License (CASP), gained full effect in December and established a standardized legal framework for crypto services across the 27-national trading block. Approval under Mica also opens the doors to Iceland, Liechtenstein and Norway, which are not EU members.
The company joins the Crypto Excanses Bitpanda, Okx and Crypto.com, among others, which has got a mica license.
Israel-based Etoro, which offers a mix of traditional and crypto-commerce services, is building a global presence. It got a license in New York in 2023 and landed on the British crypto register in 2022.
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