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eToro's U.S. CEO seeks regulatory clarity for innovation

Photo credit: Axios/Gabriella Turrisi

Regulators are not providing the kind of clarity needed to drive innovation across crypto markets and other areas of the fintech investing space, said Lule Demmissie, U.S. CEO of social investing network, eToro.

Why it matters: Washington regulators have trampled on each others' turf over how to oversee the crypto market and as a result, have struggled to convey a set of clear instructions for investors and companies playing in the fast growing sector.

Of note: "We just want regulations to be clear, fair, and to foster innovation," Demmissie said at an Axios Pro live event on Thursday. "The current state of uncertainty is not good for innovation."

Details: Demmissie, who has worked her way up through the financial advisor ranks, said one of her driving principles is ensuring that retail investors have access, even those individuals who are taking risky bets.

  • "I fundamentally believe that access is something we have to protect," she said in the subscriber only interview.

What she's watching: Demmissie, who was born in Ethiopia, said that in the 20 plus years she's been in the business, she's seen her share of up and down cycles. What has struck her during the post-pandemic cycle is the strength of the individual investor.

  • "The most important thing I've seen in this cycle is retail investor resilience," she said.
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