eToro to shut down nearly all crypto trading in settlement with US SEC

Representations of cryptocurrencies are seen in this illustration, August 10, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) -Retail trading platform eToro will stop offering nearly all cryptocurrencies to its customers as part of a settlement with the U.S. Securities and Exchange Commission, the regulator said on Thursday.

eToro also agreed to pay a penalty of $1.5 million to settle charges that it operated as an unregistered broker and unregistered clearing agency in connection with its cryptocurrency offerings.