September 26, 2022

Binance recently secured regulatory approval in France as it continues its push into the European market.

Source: Coindesk.com
Source: Coindesk.com

Cryptocurrency exchange Binance has registered Binance Italy as a virtual asset service provider with Organismo Agenti e Mediatori (OAM), a regulatory agency in that country for managing the lists of financial agents.

“Clear and effective regulation is essential for mainstream 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 defining and controlling the necessary requirements to operate in Italy in full transparency”.

The company can now offer crypto services in Italy less than one year after being labelled as “unauthorized/” by the financial regulator CONSOB last July. Binance was also prevented from offering derivatives to Italian citizens last year.

The move comes weeks after Binance – continuing with its global expansion – secured regulatory approval with the AMF in France, as well as licenses in Bahrain and Dubai.