{"id":560583,"date":"2023-02-21T16:13:02","date_gmt":"2023-02-21T14:13:02","guid":{"rendered":"https:\/\/www.etoro.com\/?p=560583"},"modified":"2025-11-21T13:19:28","modified_gmt":"2025-11-21T11:19:28","slug":"etoro-secures-new-york-bitlicense-and-money-transmitter-license","status":"publish","type":"post","link":"https:\/\/www.etoro.com\/en-us\/news-and-analysis\/latest-news\/press-release\/etoro-secures-new-york-bitlicense-and-money-transmitter-license\/","title":{"rendered":"eToro secures New York BitLicense and Money Transmitter License"},"content":{"rendered":"<p><b>New Jersey, N.J., <\/b><b>February 21<\/b><b>, 2023<\/b><span style=\"font-weight: 400;\"> &#8211; eToro<\/span><span style=\"font-weight: 400;\">, the social investing platform, announced today that the New York State Department of Financial Services (NYDFS) has approved its subsidiary, <\/span><span style=\"font-weight: 400;\">eToro NY LLC<\/span><span style=\"font-weight: 400;\">\u2019s, application for its money transmitter and virtual currency licenses, the latter also known as the BitLicense. Once eToro NY LLC is operational, users in New York State will have access to eToro\u2019s award winning virtual portfolio, integrated social investing tools and be able to trade stocks, crypto and options.\u00a0<\/span><\/p>\n<p><b>Yoni Assia, Co-founder and CEO of eToro<\/b><span style=\"font-weight: 400;\">, commented: <\/span><i><span style=\"font-weight: 400;\">\u201cSecuring our BitLicense and Money Transmitter License in New York is a key milestone in the continued expansion of our US business and a testament to the commitment of our team in partnering with regulators and state entities. eToro combines the community led approach of social media with intuitive investing tools and prides itself on the simplicity of its user experience. On eToro users can learn, practice, invest and share ideas.\u201d<\/span><\/i><\/p>\n<p><span style=\"font-weight: 400;\">Recent research* shows that 45% of American retail investors say they currently invest or plan to invest in crypto. The research also reveals the resilience of investors despite the bear market. Investors are looking for opportunities, while also hedging in case prices fall further. They are thinking long term and focusing on their goals.<\/span><\/p>\n<p><b>Lule Demmissie, CEO of eToro US, <\/b><span style=\"font-weight: 400;\">said: <\/span><i><span style=\"font-weight: 400;\">\u201c<\/span><\/i><i><span style=\"font-weight: 400;\">The right time to start investing is always now and we are incredibly excited to bring eToro\u2019s unique proposition to the residents of New York State.\u00a0<\/span><\/i><\/p>\n<p><i><span style=\"font-weight: 400;\">\u201ceToro believes that the secular trend that has powered the growth of the individual trader and investor will continue. Yes, engagement has fallen from the crazy highs of 2021, but we still see growing participation. The overarching story remains one of individual empowerment with ordinary investors accessing a wide array of instruments including crypto, stocks and options.\u00a0<\/span><\/i><\/p>\n<p><i><span style=\"font-weight: 400;\">\u201ceToro remains a <\/span><\/i><i><span style=\"font-weight: 400;\">long-term supporter of crypto and diversified investing at large. Earning the badge of an \u2018innovator\u2019 means working closely with regulators, both in the US and globally, to shape the future of the crypto industry and champion access for the Main Street investor.\u201d<\/span><\/i><\/p>\n<p style=\"text-align: center;\"><b>**Ends**<\/b><\/p>\n<p>&nbsp;<\/p>\n<p><b>Media contacts<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Finn Partners &#8211; <\/span><a href=\"mailto:finnetoro@finnpartners.com\"><span style=\"font-weight: 400;\">finnetoro@finnpartners.com<\/span><\/a><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">eToro &#8211; <\/span><a href=\"mailto:pr@etoro.com\"><span style=\"font-weight: 400;\">pr@etoro.com<\/span><\/a><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n<p><b>Notes to editors<\/b><\/p>\n<p><span style=\"font-weight: 400;\">* eToro\u2019s Retail Investor Beat is based on a survey of 10,000 retail investors across 13 countries. The US press release can be viewed <\/span><a href=\"https:\/\/www.etoro.com\/wp-content\/uploads\/2023\/01\/Q4-2022-RIB-Press-Release-FINAL-2.pdf\"><span style=\"font-weight: 400;\">here<\/span><\/a><span style=\"font-weight: 400;\">. The full global report can be viewed <\/span><a href=\"https:\/\/www.etoro.com\/wp-content\/uploads\/2023\/01\/ETORO-RIB-JANUARY.pdf\"><span style=\"font-weight: 400;\">here<\/span><\/a><span style=\"font-weight: 400;\">.\u00a0<\/span><\/p>\n<p><b>About eToro<\/b><\/p>\n<p><a href=\"https:\/\/www.etoro.com\/\"><span style=\"font-weight: 400;\">eToro<\/span><\/a><span style=\"font-weight: 400;\"> is a social investing network that empowers people to grow their knowledge and wealth as part of a global community of investors. eToro was founded in 2007 with the vision of opening up the global markets so that everyone can trade and invest in a simple and transparent way. Today, eToro is a global community of more than 30 million registered users who share their investment strategies; and anyone can follow the approaches of those who have been the most successful. Due to the simplicity of the platform users can easily buy, hold and sell assets, monitor their portfolio in real time, and transact whenever they want.<\/span><\/p>\n<p><b>US DISCLAIMER<\/b><b><br \/>\n<\/b><em><span style=\"font-weight: 400;\">Securities trading is offered by eToro USA Securities Inc., member of <\/span><a href=\"https:\/\/www.finra.org\/\" rel=\"nofollow noopener noreferrer\" ><span style=\"font-weight: 400;\">FINRA<\/span><\/a><span style=\"font-weight: 400;\"> and <\/span><a href=\"https:\/\/www.sipc.org\/\" rel=\"nofollow noopener noreferrer\" ><span style=\"font-weight: 400;\">SIPC<\/span><\/a><span style=\"font-weight: 400;\">, a self-directed broker-dealer that does not provide recommendations or investment advice. Content, research, tools, and stock symbols on eToro\u2019s website are for educational purposes only and do not imply a recommendation or solicitation to engage in any specific investment strategy. All investments involve risk, losses may exceed the amount of principal invested, and past performance does not guarantee future results. Cryptotrading is offered by eToro USA LLC. Cryptocurrency holdings are not FDIC or SIPC insured. Visit our <\/span><a href=\"https:\/\/www.etoro.com\/en-us\/customer-service\/disclosures\/\"><span style=\"font-weight: 400;\">Disclosure Library<\/span><\/a><span style=\"font-weight: 400;\"> for additional important disclosures. <\/span><a href=\"https:\/\/brokercheck.finra.org\/firm\/summary\/298361\" rel=\"nofollow noopener noreferrer\" ><span style=\"font-weight: 400;\">FINRA Brokercheck<\/span><\/a><span style=\"font-weight: 400;\"> \u00a9 2022.<\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>New Jersey, N.J., February 21, 2023 &#8211; eToro, the social investing platform, announced today that the New York State Department of Financial Services (NYDFS) has approved its subsidiary, eToro NY LLC\u2019s, application for its money transmitter and virtual currency licenses, the latter also known as the BitLicense. Once eToro NY LLC is operational, users in&hellip;<\/p>\n","protected":false},"author":93,"featured_media":553202,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[6449],"tags":[],"asset_type":[],"class_list":["post-560583","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-press-release"],"acf":[],"yoast_head":"<title>eToro secures New York BitLicense and Money Transmitter License - eToro<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.etoro.com\/en-us\/wp-json\/wp\/v2\/posts\/560583\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"eToro secures New York BitLicense and Money Transmitter License - eToro\" \/>\n<meta property=\"og:description\" content=\"New Jersey, N.J., February 21, 2023 &#8211; eToro, the social investing platform, announced today that the New York State Department of Financial Services (NYDFS) has approved its subsidiary, eToro NY LLC\u2019s, application for its money transmitter and virtual currency licenses, the latter also known as the BitLicense. 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