- eToro firm expects regulation as a part of growth for preventing investments.
- The CEO of eToto states that new rules and regulations will be imposed.
- Robinhood Israel Foundation will be launched in the US in the coming weeks.
The firm eToro predicts more regulation as a part of growth. The CEO states that regulators will impose new rules and regulations to prevent investments and transactions.
eToro is a leading social trading platform globally, offering both stock and cryptocurrency investing. The firm was established in 2007 and the FCA regulatory authority authorized it to offer its services in the United Kingdom under the subsidiary eToro UK in 2013.
The new regulations are implemented to guard the investors of digital-currencies as the firm notices the growth of crypto investors. Yoni Assia, CEO of eToro says that implementing regulation is a part of the growth in the growing business of crypto markets, following the UK’s FCA suspension on Binance.
Moreover, Assia also added that regulators should learn about cryptocurrencies as they set new guidelines. The most important thing for regulators is to understand the crypto world and recognize that digital currencies are here to stay.
Assia is the owner of the Robin Hood Israel Foundation, which is named after another rapidly growing business platform that has drawn a new generation of institutional investors to America. It has a partnership with a specific purpose acquisition company (Spac). This firm produces only 9% of users but more are from eToro where 70% are Europe-based and the platform will be launched in the US in the coming weeks.
Officials Demand Regulations on Cryptocurrency
The UK’s FCA has banned the leading trading platform, Binance for regulatory purposes. Besides, United States’ financial authorities have also destined to take steps on regulating crypto-assets. Therefore, Assia states that they wish to communicate all of the investment risks associated with these high-risk assets.
According to Assia, digital assets are volatile, they rise 100% one minute and might quickly fall 50%. Even some cryptocurrencies soar to 1000% and then pull back, so investors should study and understand the crypto-market while investing.
eToro was founded in 2007 and has been offering Bitcoin trading since 2013. According to a March regulations filing, digital currencies accounted for 16% of last year’s revenue. The trading platform’s growth and popularity have enticed the younger generation to understand and learn how to invest.
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