Binance obtains regulatory approval in Italy
Rome, 27 May 2022 - Binance, the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider, today announces that Binance Italy has received regulatory approval in Italy through registration as a Cryptocurrency Service Provider with the ‘Organismo Agenti e Mediatori’ (OAM), as required by the Italian legislation on crypto-asset.
The registration of Binance Italy, legal entity of the Group in the country established in recent months, allows the company to offer crypto products to its customers in Italy and it is a concrete testimony of the importance for Binance to operate in compliance with local regulations regarding cryptocurrencies. Regulatory approval represents an important milestone in Binance's growth strategy for Italy and will allow the company to strengthen its presence in the country by opening offices and expanding the local team.
Changpeng Zhao "CZ", co-founder and CEO of Binance commented: "Clear and effective regulation is essential for mainstream adoption of cryptocurrencies. 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 . Binance has always put its users first and, with actions such as the implementation of the register, they can be confident that our platform is among the safest and most trustworthy in the world."
The news follows Binance's registration as a “Digital Asset Service Provider” from the AMF in France in early May 2022 and the licenses recently received in Bahrain and Dubai.