Binance Registers Legal Entity in Italy Amid European Move

Cryptocurrency exchange Binance has registered Binance Italy as a virtual asset service provider with Organismo Agenti e Mediatori (OAM), a regulatory agency in that country for managing the lists of financial agents.

• “Clear and effective regulation is essential for mainstream adoption of cryptocurrencies,” Binance CEO Changpeng Zhao, said in a statement. “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.”
• The company can now offer crypto services in Italy less than one year after being labelled as “unauthorized/” by the financial regulator CONSOB last July. Binance was also prevented from offering derivatives to Italian citizens last year.
• The move comes weeks after Binance – continuing with its global expansion – secured regulatory approval with the AMF in France, as well as licenses in Bahrain and Dubai.