EToro Gets A BitLicense In New York

The New York State Department of Financial Services has given eToro licenses to send and receive money and virtual currencies.

The licenses mean that once a new subsidiary is up and running, users in New York state will be able to trade stocks, cryptocurrencies, and options through eToro.

Since launching in the US in 2019, the European company eToro has been building its presence there. The company bought the local options trading app Gatsby for about $50 million last year.

The CEO of eToro, Yoni Assia, says:

“Securing our BitLicense and Money Transmitter License in New York is a key milestone in the continued expansion of our US business and a testament to the commitment of our team in partnering with regulators and state entities.”