Cryptocurrency-friendly brokerage firm eToro is expanding its crypto services worldwide after securing new regulatory approval in Europe.
EToro has received a Crypto Asset Service Provider (CASP) registration from the Cyprus Securities and Exchange Commission (CySEC), the firm officially announced on Sept. 21.
According to eToro, the registration will authorize it to offer regulated crypto services to all countries in the European Union from one single entity known as eToro Europe Digital Assets. The registration will specifically come into effect once the EU’s Markets in Crypto-Assets Regulation (MiCA) is enforced in December 2024.
According to eToro deputy CEO Hedva Ber, the registration shows that eToro is “100% ready to embrace a new era for crypto once MiCA comes into effect next year.” The exec pointed out that Europe is “hugely important” for eToro as the majority of its users are based in the region.
Some other major crypto firms, such as Bybit exchange, have also been expanding their presence in the EU by obtaining the CySEC registration. On the other hand, Binance applied to deregister in Cyprus in June, claiming that it wanted to focus on “larger markets.”
EToro’s recent crypto approval in Cyprus follows a similar regulatory milestone in Spain. In July 2023, the Bank of Spain approved the registration of eToro as a service provider of exchange of virtual currency for fiat currency and electronic wallet custody services. Previously, eToro also secured a digital asset service provider registration from the French financial regulator, the Autorité des Marchés Financiers.
A major social trading and multi-asset investment firm, eToro made headlines in April 2023 by partnering with Elon Musk’s X (formerly Twitter) to help the social media platform launch crypto and stock trading.
The firm also faced some issues in Australia earlier this year, with the Australian Securities and Investments Commission suing eToro over “volatile” trading products in August.
Jess Phillips has said “there is no place” where violence against women and girls “doesn’t happen” – as a new law is set to make spiking a criminal offence.
Earlier on Friday, the government said spiking will now be its own offence with a possible 10-year prison sentence as part of the Crime and Policing Bill, which will be introduced in parliament next week.
It also announced a nationwide training programme to help workers spot and prevent attacks.
Speaking to Sky News correspondent Ashna Hurynag, the safeguarding minister said that while spiking is already illegal under existing laws, the new classification will simplify reporting the act for victims.
“Spiking is illegal – that isn’t in question, but what victims and campaigners who have tried to use the legislation as it currently is have told us is that it’s unclear,” Ms Phillipssaid.
Image: Spiking will be made a criminal offence, carrying a sentence of up to 10 years. Pic: iStock
UK ‘was never safe’ for women
When asked if the UK is becoming a less safe place for women, the minister for safeguarding and violence against women and girls, said: “I don’t think it’s becoming less safe, if I’m being honest. I think it was never safe.”
Speaking about a rise in coverage, Ms Phillips said: “We have a real opportunity to use that, the sense of feeling [built by campaigners] in the country, to really push forward political change in this space.”
“The reality is that it doesn’t matter whether it’s the House of Commons or any pub in your local high street – there is no place where violence against women and girls doesn’t happen, I’m afraid,” she added.
Spiking is when someone is given drugs or alcohol without them knowing or consenting, either by someone putting something in their drink or using a needle.
Police in England and Wales received 6,732 reports of spiking in the year up to April 2023 – with 957 of those relating to needle spiking.
London’s Metropolitan Police added that reports of spiking had increased by 13% in 2023, with 1,383 allegations.
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November 2024: If you got spiked would you report it?
As part of the nationwide training programme, a £250,000 government-funded scheme was started last week to teach staff how to spot warning signs of spiking crimes, prevent incidents and gather evidence.
It aims to train 10,000 staff at pubs, clubs and bars for free by April this year.
Alex Davies-Jones, minister for victims and violence against women and girls, said in a statement that “no one should feel afraid to go out at night” or “have to take extreme precautions to keep themselves safe when they do”.
“To perpetrators, my message is clear: spiking is vile and illegal and we will stop you,” he said. “To victims or those at risk, we want you to know: the law is on your side. Come forward and help us catch these criminals.”
Colin Mackie, founder of Spike Aware UK, also said the charity is “delighted with the steps being taken by the government to combat spiking”.
He added: “Spiking can happen anywhere, but these new initiatives are the first steps to making it socially unacceptable and we urge anyone that suspects or sees it happening, not to remain silent.”