EToro Settles With the SEC: Industry Lawyers React

Trading platform eToro agreed Thursday to settle charges with the U.S. Securities and Exchange Commission that it operated as an unregistered broker and clearing agency and that it facilitated trading in some crypto assets that are securities. The agreement sees eToro paying a $1.5 million fine and means the company will be limited to trading just three digital assets: bitcoin

“It appears that the SEC has officially sanctioned BTC, BCH, and ETH so we know that the SEC considers at least those three to be commodities and not securities. The key words here at ‘at least.’ There may be others, but there is no legal guidance based upon this settlement.”“What we know from the face of the Cease and Desist Order is that eToro submitted an Offer of Settlement that the SEC accepted.

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SEC settles with 7 companies it says violated whistleblower protection rulesSeven companies settled with the Securities and Exchange Commission over charges that they violated rules protecting whistleblowers who report potential misconduct to the regulatory agency. The combined civil penalties for the seven companies totaled more than $3 million, the SEC said Monday. The biggest civil penalty agreed to was nearly $1.
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