Cryptocurrency exchange Binance has received regulatory approval from Italy’s financial regulator to operate as a cryptocurrency service provider in the country. “Clear and effective regulation is critical to mainstream adoption of cryptocurrencies,” said Binance CEO Changpeng Zhao.
Binance is now licensed in Italy
Binance Italy “has received regulatory approval” by registering as a cryptocurrency service provider with Organismo Agenti e Mediatori (OAM), as required by Italian crypto asset legislation, Binance announced Friday.
The announcement stated:
The registration of Binance Italy… allows the company to offer crypto products to its customers in Italy.
Binance Italy, established in recent months, is the legal entity of Binance Group in Italy.
Earlier this month, Binance said it had received approval from French financial regulator Autorité des Marchés financiers (AMF) to operate as a registered digital asset service provider (DASP). The cryptocurrency exchange also recently received licenses from Bahrain and Dubai.
Binance co-founder and CEO Changpeng Zhao (CZ) commented:
Clear and effective regulation is critical for mainstream adoption of cryptocurrencies.
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