Crypto exchange Binance has received regulatory approval from the Italian 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 is now licensed in Italy
Binance announced on Friday that Binance Italy has “obtained regulatory approval” through registration with Organismo Agenti e Mediatori (OAM) as a cryptocurrency service provider, as required by Italian law on crypto assets.
The announcement stated:
The registration of Binance Italy… allows the company to offer crypto products to its customers in Italy.
Binance Italy, founded in recent months, is the legal entity of the Binance Group in Italy.
Earlier this month, Binance said it has received approval from French financial regulator Autorit des Marches Financiers (AMF) to operate as a Registered Digital Asset Service Provider (DASP). The crypto exchange recently obtained license in Bahrain and Dubai.
Binance Co-Founder and CEO Changpeng Zhao[सीजेड]commented:
Clear and effective regulation is essential for mainstream adoption of cryptocurrencies.
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