Cryptocurrency exchange Binance has registered Binance Italy as a virtual asset services provider with Organismo Agenti e Mediatori (OAM), a regulatory body in that country for managing financial agent listings.
- "Clear and effective regulation is essential for the widespread adoption of cryptocurrencies," Binance CEO Changpeng Zhao said in a statement. "We thank the Ministry of Economy and Finance and the OAM for their efforts in setting and monitoring the necessary requirements to operate in full transparency in Italy."
- The company can now offer crypto services in Italy, less than a year after it was deemed "unauthorized" by financial regulator CONSOB last July. Binance was also blocked from offering derivatives to Italian citizens last year.
- The move comes weeks after Binance - continuing its global expansion - received regulatory approval from the AMF in France, as well as licenses in Bahrain and Dubai.