eToro Expands Cryptocurrency Trading into New York Market

eToro has marked a major expansion into the cryptocurrency market by launching trading services in New York. The platform obtained a Virtual Currency Business Activity License from the New York State Department of Financial Services (NYDFS) in February 2023, but only activated its services in April 2026.

The NYDFS is considered one of the most demanding regulatory bodies for cryptocurrency firms in the U.S., with a rigorous application process that has taken multiple years for many companies to complete. eToro's license enables it to offer custody, transmission, and trading services for virtual currencies to New York residents.