Crypto exchange platform Binance has today been handed regulatory approval in Italy.
The move comes less than a month after being given the thumbs up to operate in France, where Binance chiefs hinted they would establish the company’s European hub.
Binance Italy is now registered as a Cryptocurrency Service Provider with the ‘Organismo Agenti e Mediatori’ (OAM), as required by the Italian legislation on digital assets.
The registration allows Binance to offer crypto products to its customers in Italy as the company continues its drive to operate in compliance with local regulations regarding cryptocurrencies. Regulatory approval represents an important milestone in Binance’s growth strategy for Italy and will allow the company to strengthen its presence in the country by opening offices and expanding the local team.
“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,” said Changpeng ‘CZ’ Zhao, co-founder and CEO of Binance.
“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. ”
The news follows Binance’s registration as a “Digital Asset Service Provider” from the AMF in France in early May 2022 and the licenses recently received in Bahrain and Dubai.