Cryptocurrency exchange Binance has registered Binance Italy as a digital asset services provider with Organismo Agenti e Mediatori (OAM), the legal body that regulates the list of financial companies in the country. “Clear and effective regulations are necessary for the widespread use of cryptocurrencies,” Binance CEO Changpeng Zhao said in a statement. We would like to thank the Ministry of Economy and Finance and the OAM for their efforts in identifying and controlling the requirements necessary to operate transparently in Italy.” The company is now able to offer cryptocurrency services in Italy after being branded “unauthorised” by financial regulator CONSOB in July 2021. Binance was also banned from providing derivatives to Italian citizens last year 2021.
The move comes just weeks after Binance was legally approved by the AMF in France and licensed in Bahrain and Dubai, in an effort to expand globally.