Binance Obtains Regulatory Approval to Offer Crypto Products in Italy

Binance Obtains Regulatory Approval to Offer Crypto Products in Italy

Crypto 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 essential for mainstream adoption of cryptocurrencies,” said Binance CEO Changpeng Zhao. Binance Now Licensed in Italy

Binance announced Friday that Binance Italy “has received regulatory approval” through registration as a Cryptocurrency Service Provider with the Organismo Agenti e Mediatori (OAM), as required by the Italian legislation on crypto assets.

The announcement states: 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 the Binance Group in Italy.

Earlier this month, Binance said it has received approval from the French financial regulator, the Autorité des marchés financiers (AMF), to operate as a registered Digital Asset Service Provider (DASP). The crypto exchange also recently received licenses in Bahrain and Dubai.

Changpeng Zhao (CZ), co-founder and CEO of Binance, commented: Clear and effective regulation is essential for mainstream adoption of cryptocurrencies. Tags in this story binance italian, binance italian arm, binance italy, Binance italy bitcoin, Binance italy crypto, Binance italy cryptocurrency, binance licensed, binance regulatory approval, Changpeng Zhao, CZ, italian regulator, Italy

What do you think about Binance receiving approval in Italy to operate a crypto exchange? Let us know in the comments section below. Kevin Helms

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography. Provision Allowing Cryptocurrency Payments in Foreign Trade Added to Russian Bill REGULATION | 12 hours ago India"s Central Bank RBI to Adopt a "Graded Approach" to Digital Currency Launch REGULATION | 1 day ago

Image Credits: Shutterstock, Pixabay, Wiki Commons Previous article‘Big Short’ Investor Michael Burry Warns of Looming Consumer Recession, More Earnings Trouble Next articleEthereum Transaction Fees Hit a 10-Month Low as Gas Costs per Transfer Sink Below $3 Show comments More Popular NewsIn Case You Missed ItRipple CEO: SEC Lawsuit Over XRP "Has Gone Exceedingly Well"

The CEO of Ripple Labs says that the lawsuit brought by the U.S. Securities and Exchange Commission (SEC) against him and his company over XRP "has gone exceedingly well." He stressed: "This case is important, not just for Ripple, it’s ... read more.Tony Hawk"s Latest NFTs to Come With Signed Physical Skateboards UAE Airliner Emirates to Launch NFTs and Experiences in the Metaverse Iran to Increase Penalties for Unauthorized Cryptocurrency Mining Terra"s Algorithmic Dollar-Pegged Crypto UST Is Now the Third-Largest Stablecoin