Svmuu News Trading platform eToro has announced the official launch of its crypto asset trading services in New York, approximately three years after obtaining its BitLicense.
The initial offering will include around 20 crypto assets, with plans to gradually expand to more tokens and introduce features such as staking in the future. In contrast, eToro typically offers trading for over 100 crypto assets in other global markets.
eToro received its BitLicense from the New York State Department of Financial Services in February 2023. Since its introduction in 2015, the approval process for this license has been stringent, with fewer than 40 institutions having obtained it, and not all licensed companies have actually commenced operations.
The company stated that regulatory scrutiny has intensified significantly following the FTX incident, leading to an extended launch cycle.