According to The Block, the trading platform eToro has launched cryptocurrency asset trading services for users in New York State. It has been over three years since eToro received the BitLicense issued by the New York State DFS in February 2023. Since its introduction in 2015, fewer than 40 institutions have been approved for the BitLicense, and not all licensed companies ultimately conduct crypto business in New York. Andrew McCormick, head of eToro in the United States, stated that eToro is one of the first institutions to be approved for the BitLicense after the collapse of FTX, and expressed a preference for the introduction of a unified market structure legislation at the federal level to reduce compliance costs caused by "varying standards across states."
According to The Block, the trading platform eToro has launched cryptocurrency asset trading services for users in New York State. It has been over three years since eToro received the BitLicense issued by the New York State DFS in February 2023. Since its introduction in 2015, fewer than 40 institutions have been approved for the BitLicense, and not all licensed companies ultimately conduct crypto business in New York. Andrew McCormick, head of eToro in the United States, stated that eToro is one of the first institutions to be approved for the BitLicense after the collapse of FTX, and expressed a preference for the introduction of a unified market structure legislation at the federal level to reduce compliance costs caused by "varying standards across states."