News - eToro stops crypto sales in Germany

By Mike Hesp

eToro stops crypto sales in Germany

Bitcoin (BTC)
Exchanges

Instead of "real" Bitcoin only CFDs: eToro stops selling cryptos in Germany. The reason is new regulatory developments.

Trading platform eToro is ending its physical crypto offerings for German customers. This is according to information provided by the German BTC-ECHO has obtained.

"Against the background of new regulatory developments, users in Germany can no longer acquire new crypto positions as of today, Wednesday, Sept. 13, 2023," the platform said.

Although it is still possible to acquire crypto CFD positions without leverage and with the same market opportunities and risks. However, CFDs are "only" derivatives that speculate on the price movements of Bitcoin and Co. without the physical asset behind them.

This means: German eToro customers can no longer move crypto assets to a external wallet. "Existing crypto positions are not affected by the changes," eToro said.

There are also innovations regarding strike: Rewards are now credited exclusively in U.S. dollars. Strike is also not possible with CFDs.

The online broker does not make clear what regulatory developments are involved. eToro, however, ended its offerings for several cryptocurrencies back in June - due to regulatory pressure from the U.S. Securities and Exchange Commission (SEC).

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