eToro Joins Blockchain Association to Influence Policymakers

Blockchain AssociationThe foreign exchange broker joins existing members such as U.S.-based cryptocurrency exchange Coinbase, global finance company Circle, venture capital firm Digital Currency Group, and crypto fund Polychain.

eToro, the leading retail FX broker, has joined the Blockchain Association as an executive member. The company is commited to help the Association build more efficient financial systems and decentralized web applications.

Guy Hirsch, USA Managing Director, eToro, said: “As a company, we prioritize compliance with the regulations of all the jurisdictions we operate in around the world. As the United States’ blockchain industry evolves and matures, regulators and the industry need to prioritize conversations around ensuring consumers are informed and protected from bad actors. We are looking forward to collaborating with regulators and major industry players on how to provide guardrails without hindering innovation so that blockchain companies can flourish in a compliant manner. The Blockchain Association promotes policies that balance consumer protection and innovation and we’re proud to help drive its mission forward.

“Empowering people to reach their financial goals begins with providing access to a diverse range of assets. Education allows investors to harness the full potential of these assets. By providing educational tools and resources to the growing blockchain community, eToro aims to ensure that this technology and the crypto asset class benefits the many, not just the few”, he added.

Kristin Smith, Director of External Affairs, Blockchain Association
Kristin Smith, Director of External Affairs, Blockchain Association

Kristin Smith, Director of External Affairs, Blockchain Association, commented: “The power of open blockchain technology lies in the control it returns to individual consumers. eToro’s groundbreaking investment platform operates in that spirit, giving users the opportunity to trade across multiple asset classes, including cryptocurrencies, safely and securely. We’re excited to add eToro to a growing group of leading companies as we push for informed and responsive regulation that spurs innovation and protects consumers in this rapidly-developing industry.

eToro has recently rolled out its cryptocurrency wallet as a mobile application available via Google Play and the Apple App Store.

eToro is one of the most active retail FX and CFD brokers in the cryptocurrency arena. The company launched its digital asset offering in the United States in May 2018. In October 2018, the firm led by Yoni Assia decided to cut spreads on cryptocurrency trading by more than half in some cases in an effort to drive more trading volume into the platform.