Binance, the world’s top blockchain ecosystem, and cryptocurrency infrastructure provider, has acquired regulatory permission in Italy by registering as a Cryptocurrency Service Provider with the ‘Organismo Agenti e Mediatori’ (OAM), as required by Italian crypto-asset legislation.
The recent registration of Binance Italy, the Group’s legal entity in the nation, allows the company to offer crypto products to its consumers in Italy, and it is a clear demonstration of how important it is for Binance to operate in accordance with local cryptocurrency rules. The regulatory permission is a significant step forward in Binance’s expansion strategy for Italy, allowing the business to extend its presence in the nation by opening offices and hiring more local staff.
Binance’s co-founder and CEO, Changpeng Zhao “CZ,” expressed his thoughts as follows:
Clear and effective regulation is essential for mainstream adoption of cryptocurrencies. We thank the Ministry of Economy and Finance and the OAM for their efforts in defining and controlling the necessary requirements to operate in Italy in full transparency . Binance has always put its users first and, with actions such as the implementation of the register, they can be confident that our platform is among the safest and most trustworthy in the world.
Binance was recently granted licenses in Bahrain and Dubai, as well as registration as a “Digital Asset Service Provider” by the AMF in France in early May 2022.
Binance Receives Crypto Licensing in Italy
- Binance, a cryptocurrency exchange, said in an official blog post that the competent authority “Organismo Agenti e Mediatori” (OAM) in Italy has granted them registration as a cryptocurrency service provider
- Binance may now sell cryptocurrency products and services in Italy, thanks to the clearance. There are also plans to create offices in Italy and grow the personnel there, according to the Exchange
- Binance is expanding its presence in Europe. The cryptocurrency exchange recently passed a regulatory hurdle in France and announced that it is actively seeking a crypto custody license in Germany
