Cardano

Bitcoin

Giant

<ul> 
 <li>ASIC has launched Federal Court proceedings against eToro over their contract for difference (CFD) product in the crypto market.</li> 
 <li>The regulatory body accuses eToro of violating license obligations and design and distribution requirements, particularly the duty to act efficiently, honestly, and fairly when providing financial services.</li> 
 <li>The legal action aims to address potential non-compliance with regulatory standards and enhance consumer protection measures in the rapidly evolving cryptocurrency industry.</li> 
</ul> 
<p>The Australian Securities and Investments Commission (ASIC) has recently launched Federal Court proceedings against eToro, a prominent cryptocurrency trading platform. The lawsuit alleges that eToro’s contract for difference (CFD) product for cryptocurrencies violated their license obligations and design and distribution requirements.</p> 
<p>ASIC specifically accuses eToro of failing to uphold their duty to act efficiently, honestly, and fairly when providing financial services to customers. The regulatory body aims to address potential non-compliance with regulatory standards and enforce consumer protection measures in the rapidly evolving cryptocurrency market.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
   <p lang="en" dir="ltr">The Australian Securities and Investments Commission has launched Federal Court proceedings against crypto trading platform eToro's contract for difference (CFD) product. ASIC is alleging breaches of design and distribution obligations and of eToro’s licence obligations to act…</p>— Wu Blockchain (@WuBlockchain) <a href="https://twitter.com/WuBlockchain/status/1686902832006680576?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 3, 2023</a> 
  </blockquote> 
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div> 
</figure> 
<p>As the crypto industry continues to gain popularity and attract investors, regulators are closely monitoring the conduct of trading platforms and ensuring compliance with applicable laws. The outcome of this legal action could have significant implications for eToro and the broader crypto trading ecosystem in Australia.</p> 
<p>Both the cryptocurrency community and financial market participants will be closely following the developments of this case, as it may set a precedent for future regulatory actions concerning crypto-related financial products. Investors are urged to stay informed and exercise caution when engaging with crypto platforms to protect their interests and assets.</p> 
<h4 class="wp-block-heading" id="h-recommended-news">Recommended News :</h4> 
<ul class="wp-block-yoast-seo-related-links"> 
 <li><a href="https://cryptonewsland.com/cz-elon-musk-fallout-twitters-etoro-deal-the-catalyst/" rel="noopener noreferrer nofollow">CZ-Elon Musk Fallout: Twitter’s eToro Deal the Catalyst?</a></li> 
 <li><a href="https://cryptonewsland.com/cardano-beats-bitcoin-as-most-held-crypto-on-etoro/" rel="noopener noreferrer nofollow">Cardano Beats Bitcoin as Most-Held Crypto on eToro</a></li> 
 <li><a href="https://cryptonewsland.com/crypto-giant-binance-faces-crushing-blow-in-australia/" rel="noopener noreferrer nofollow">Crypto Giant Binance Faces Crushing Blow in Australia</a></li> 
 <li><a href="https://cryptonewsland.com/russian-miners-purchase-more-bitcoin-mining-rigs-in-q4/" rel="noopener noreferrer nofollow">Russian Miners Purchase More Bitcoin Mining Rigs in Q4</a></li> 
 <li><a href="https://cryptonewsland.com/yieldtrust-ai-accused-of-running-ai-powered-ponzi-scheme-by-us-state-regulators/" rel="noopener noreferrer nofollow">YieldTrust.ai Accused of Running AI-Powered Ponzi Scheme by US State Regulators</a></li> 
</ul> 
<p>The post <a rel="noopener noreferrer nofollow" href="https://cryptonewsland.com/australian-regulator-asic-initiates-lawsuit-against-etoros-cfd-product/">Australian Regulator ASIC Initiates Lawsuit Against eToro’s CFD Product</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://cryptonewsland.com">Crypto News Land</a>.</p>

Australian Regulator ASIC Initiates Lawsuit Against eToro’s CFD Product

Crypto News Land

Otros artículos publicados el 3 ago 2023

BlockFi Restructure Plan Nears Completion

New York resident confesses to hacking Bitfinex in 2016

Mohamed bin Zayed University of Artificial Intelligence Expands Robotics and Computer Science Dep...

2023 Price Prediction: Cardano – Aptos Crash – Tradecurve Hits New All-Time High

Australian regulator sues eToro for trading CFDs

MicroStrategy Stays on Bitcoin Course Despite Spot ETF Approval: Saylor

¡Únete a nuestro boletín gratuito para recibir actualizaciones diarias de criptografía!