Cryptocurrency exchange Binance said in a statement that Binance Italy has received regulatory approval by registering with Organismo Agenti e Mediatori (OAM) as a cryptocurrency service provider, as required by Italian legislation regarding crypto assets.
Binance Italy registration allows it to offer crypto products to its customers in Italy.
The Block reported that last July, Italy’s securities regulator issued a warning regarding Binance, saying the cryptocurrency exchange was unauthorized to operate in the country.
Changpeng Zhao, co-founder and CEO of Binance, said on Friday:
“Clear and effective regulation is essential for the mainstream adoption of cryptocurrencies. We thank the Ministry of Economy and Finance and OAM for their efforts to define and control the requirements necessary to operate in Italy with full transparency.”
Earlier this month, French financial regulators reportedly granted Binance a digital asset service provider license. The company has also recently been licensed to operate in Bahrain and Dubai.
