eToro registers crypto platform with Italian regulator
“As of Q2 2022, many Italians hold a diversified portfolio allocating, on average, 23% to cryptoassets.”
eToro has registered with the Italian regulator Organismo Agenti e Mediatori1 (OAM) in an effort to work hand in hand with regulatory authorities to ensure compliance with rules and regulations and to safeguard retail investors.
The social investment network is the latest trading platform to join the registry of cryptoasset providers in Italy.
eToro is looking to strengthen its presence in Italy as its research indicates that over a third (38%) of Italians have taken advantage of the current crypto winter to increase their allocation to cryptoassets, and 44% have continued to hold their crypto investments.
eToro supports all regulatory measures for retail investors
Emanuela Manor, eToro’s Regional Manager for Italy, said: “We are very proud to have received this registration from the Organismo Agenti e Mediatori (OAM) which will offer our Italian users an extra layer of peace of mind when investing with eToro. Our goal is to get more people investing and we fully support all regulatory measures that protect retail investors without excluding those who could benefit most, or stifling innovation.
“eToro has witnessed greater participation by Italian users in crypto markets over the past three years. As of Q2 2022, many Italians hold a diversified portfolio allocating, on average, 23% to cryptoassets. As a result of greater retail participation, we will continue to expand our educational resources to support our investor community, and urge our users to think long-term, diversify and be cautious, when it comes to building their portfolios.”
eToro launched an investment platform that is built around social collaboration and investor education in 2007. During the last 15 years, the social trading platform created a community of over 28 million registered users.
Users can view other investors’ portfolios and statistics, and interact with them to exchange ideas, discuss strategies and benefit from shared knowledge.
eToro offers access to traditional assets such as equities, currencies, ETFs, or commodities alongside newer assets like cryptoassets. eToro also offers its users a choice of how to invest, as users can trade directly themselves, invest in a portfolio, or replicate the investment strategy of other investors on eToro’s platform.