Tag: crypto regulation bill

Moneta Markets has expanded its social trading offerings by adding ZuluTrade to its trading platform, the broker announced on Friday. The most recent integration comes as Moneta already offers such services with Duplitrade, another popular third-party social trading platform.

Copy trading trend

Copy trading, which allows traders to copy experts’ trading strategies, has become very popular over the last decade. The industry is estimated to be growing at a compound annual rate of 7.8 percent and is expected to grow from $2.2 billion at the end of 2021 to $3.77 billion by 2028.

ZuluTrade is a very popular copy-trading platform that has partnered with dozens of brokers to enable them to offer copy-trading services to their clients. The platform was founded in 2007 and acquired by Finvasia Group last December for an undisclosed sum, a deal that also included Greece-licensed broker AAAFx.

Headquartered in Greece, ZuluTrade is now focused on expanding its global reach and seeking new regulatory licenses. It’s also pushing to add new features to its existing social trading platform.

Moneta Markets

Founded in 2020, Moneta recently emerged from the Vantage umbrella to become self-employed. The broker received a new regulatory license in Australia while already being regulated in South Africa and St. Vincent and the Grenadines.

Meanwhile, third-party trading platforms have become wary of late after Apple pulled two MetaTrader apps from the App Store, possibly in response to scammers’ use of the platform. These third-party trading platforms rarely partner with shady brokers who operate without a license or offshore permits.

Moneta Markets has expanded its social trading offerings by adding ZuluTrade to its trading platform, the broker announced on Friday. The most recent integration comes as Moneta already offers such services with Duplitrade, another popular third-party social trading platform.

The broker’s decision to integrate ZuluTrade came after expanding its product range and also improving trading infrastructure and pricing.

The financial terms of the deal are unknown.

Both Bullsheet co-founders joined eToro as employees.

eToro announced on Thursday its acquisition of Bullsheet, a provider of portfolio management tools exclusively to eToro users. The platform was developed by two cousins, Filipe Sommer and João Ramalho Carlos.

Bullsheet is a tool specific to eToro users, allowing them to manage investment by analyzing and diversifying portfolios. eToro is now working to integrate BullSheet’s offerings into its platform.

“The Bullsheet story is a great example of the talent and passion within eToro’s global community. It’s the wisdom of the crowd in action,” said eToro’s Co-Founder and CEO, Yoni Assia. “[João and Filipe] created Bullsheet to share the tools they developed as eToro users with other users.”

Read our Detailed eToro Review.

The Co-Founders of BullSheet started the project in 2021 after joining eToro’s Popular Investor program in 2020 as users. Professionally, Sommer is a techie and worked as a Software Engineer at Accenture for three years until July 2022.

Carlos has seven years of experience working in marketing and product-based roles. He initially worked at the Lisbon office of McKinsey as a Business Analyst and later became the Head of Product at Plicca. Additionally, he worked at Naturea Petfoods for more than four years and parted as the Head of Digital Marketing and E-Commerce. On top of that, he was a Performance Marketing Lead at Kenjo for over a year.

Meanwhile, eToro is expanding its global presence aggressively. Furthermore, it gained an in-principal license from Abu Dhabi last month. The broker even acquired Gatsby, commission-free options and stock trading firm in the United States, for $50 million.

Online broker eToro has announced the launch of ESG-Leaders, a portfolio offering retail investors long-term exposure to companies leading the way in environmental, social and governance (ESG) best practices.

The portfolio is built by identifying the four companies with some of the highest ESG scores for their sector across 11 industry sectors, while also taking into consideration market capitalization, liquidity, and sell-side analyst ratings. Read our Detailed eToro Review.

• The 11 industry sectors covered are consumer discretionary, consumer staples, energy, financials, healthcare, industrials, information technology, materials, real estate, telecommunication services, and utilities. Names in the portfolio include Nivea’s parent company Beiersdorf, ABB, Nvidia and Telefonica.

The portfolio launch follows the introduction of ESG scores to the eToro platform for over 2,700 stocks. Powered by ESG Book, a global leader in ESG data and technology, the ESG scores combine the most up-to-date market news, NGO signals and company-reported information enabling users to consider environmental, social, and governance factors when building their portfolios.

• eToro’s Smart Portfolios offer investors exposure to various market themes. Bundling together several assets under a defined methodology, and employing a passive investment approach, eToro’s Smart Portfolios are long-term investment solutions that offer diversified exposure with no management fees.

• Initial investment starts from USD 500 and investors can access tools and charts to track the portfolio’s performance, while eToro’s social feed will keep them up-to-date on developments in the sector. For now, this portfolio is not available to US users.

The European Parliament Committee on Economic and Monetary Affairs voted Monday to advance a version of the much-debated Markets in Crypto Assets bill, or MiCA. The bill is now headed into final negotiations with the European Commission, the Council of the European Union and the European Parliament.

ECON passed the crypto framework policy in a vote of 28 in favour and one against. National representatives in the European Council voted through the proposal last week. Then, after translating the text into the EU’s more than 20 official languages, the next step towards formal adoption of the legislation comes with a final vote in a full European Parliament.

MiCA includes a 12-18 month adaptation period to prepare for the new laws set in place, which means that the laws could take effect in full at the start of 2024 at the earliest.

The MiCA legislation, first introduced in 2020, aims to provide a regulatory framework for digital assets for member states in the EU by 2025. The EU-wide regulatory framework will grant passporting rights for crypto firms working across the continent.

The proposal offers a bespoke legislative regime for crypto assets and relevant service providers not covered elsewhere in the EU financial services regime. The initial draft had included explicit language that would have banned proof-of-work-based cryptocurrencies like Bitcoin, but due to energy consumption concerns this provision was struck after an outcry from industry leaders.

The development comes nearly two years after the European Commission published the first EU legislative framework for crypto assets, which was as part of the broader policy initiative on digital finance. In addition, the MiCA will offer a pilot regime for crypto-related market infrastructures, which represents a so-called ‘Sandbox’ approach. The term has particular relevance for the crypto industry, and the EU scheme was described as a controlled environment under which new firms or new ventures from established brands would be able to live test their ideas.

Nevertheless, European regulators have yet to stake out the DeFi territory and its various applications. Recent news coverage has also highlighted the emergence of Non-fungible Tokens (NFTs). That said, the regulation of these transformative technologies is blurry. There is no such federal agency that has clear authority over a particular DApp, NFT, or even the entire industry.