- Binance acquired regulatory permission on May 28th via registration with the OAM.
- On July 18th that Coinbase received authorization from Italian authorities.
Bitstamp announced that the Italian financial authority Organismo Agenti e Mediatori (OAM) has accepted the company’s registration application. Enterprises in the jurisdiction that want to provide services like trading, custody, and others must get a license.
The regulator recently established a new rule that required any companies that provide crypto trading, custody, or other services to satisfy the stated standards. Bitstamp, a Luxembourg and Netherlands-based cryptocurrency company founded in 2011, is one of the continent’s first.
JB Graftieaux, CEO of Bitstamp, stated:
“This registration in Italy is part of our global plans to offer services across Europe and around the world,” the executive further added: “Italy is among the most important markets in Europe, and we are thrilled to provide its citizens with a safe and secure way to trade cryptocurrencies.”
Italy Opening Its Arms to Crypto Sector
The Italian financial regulator, Organismo Agenti e Mediatori (OAM), has taken a cue from other crypto companies that are extending their activities and registering with them. After fulfilling Italy’s recently amended legislation on crypto assets, Binance acquired regulatory permission on May 28th via registration with the OAM as a crypto service provider.
It was announced on July 18th that Coinbase has received authorization from Italian authorities to continue operating in Italy. Coinbase has declared that it has satisfied the standards of the OAM, which governs banking and brokerage companies in Italy and enforces anti-money laundering safeguards.
It was only a day later that the Italian agency granted Crypto.com permission to sell its goods and services in the nation. As the cryptocurrency market begins to recover from the recent downturn, Italy is opening its doors wider to crypto firms.
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