Binance Obtains Regulatory Approval to Offer Crypto Products in Italy – Regulation Bitcoin News

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.

Italy: Binance now licensed

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.

It states that:

The registration of Binance Italy … allows the company to offer crypto products to its customers in Italy.

Binance Italy is the legal entity that the Binance Group has established in the last months.

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). Additionally, the crypto exchange has recently been granted licenses in Bahrain as well as Dubai.

Changpeng Zhao, co-founder of Binance and its CEO (CZ), commented:

It is vital that cryptocurrencies are regulated clearly and effectively in order to be mainstreamed.

How do you feel about Binance being approved in Italy for a crypto-exchange? Please comment below.

Kevin Helms

Kevin is a graduate of Austrian Economics. He discovered Bitcoin in 2011, and has been an advocate ever since. He is interested in Bitcoin security and open-source software, network effects, and the intersection of cryptography and economics.