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Financial trading platform eToro has settled charges from the U.S. Securities and Exchange Commission, the regulator announced Thursday, with the firm agreeing to pay a penalty and stop offering all but three crypto assets for trade in the United States.
According to the SEC announcement, eToro will only offer Bitcoin, Ethereum, and Bitcoin Cash trading going forward to U.S. customers. The regulator said that eToro settled charges related to operating "an unregistered broker and unregistered clearing agency in connection with its trading platform that facilitated buying and selling certain crypto assets as securities."
The platform will offer U.S. customers 180 days to sell other crypto assets before restricting trading access. eToro will pay a $1.5 million penalty in relation to the settled charges.
Editor's note: This story is breaking and will be updated with additional details.