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Binance Receives Crypto Licensing in Italy

 


The crypto exchange Binance announced in an official blog post that it had received registration as a cryptocurrency service provider from the competent authority “Organismo Agenti e Mediatori” (OAM) in Italy.

The approval now allows Binance to offer crypto products and services in Italy. According to the Exchange, there are also plans to open offices in Italy and expand the workforce there.

"Clear and effective regulation is essential for the mainstream acceptance of cryptocurrencies," said Binance CEO Changpeng "CZ" Zhao. "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 with full transparency."

Binance is on an expansion course in Europe. The crypto exchange recently reached a regulatory milestone in France and also revealed that it is actively seeking a crypto custody license in Germany .

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