Binance receives official approval in Italy

Binance receives official approval in Italy

The world's largest crypto exchange has received official approval in Italy while continuing its expansion to new regions.

Binance Italy has registered as a provider of cryptocurrency services at the organo Agenti e Mediatori (OAM) - a request for the country's legislation. The approval enables the company to offer customers in Italy crypto products, open offices and expand their team in the country.

"A clear and effective regulation is essential for the general introduction of cryptocurrencies," said Changpeng Zhao, CEO of Binance, in a statement. "Binance has always put its users in the first place and with measures such as the implementation of the register, they can trust that our platform is one of the most secure and most trustworthy in the world."

A spokesman for Binance did not immediately answer a request to comment on certain products that he could offer in Italy or other regions in which he could seek an official approval.

The news follows the registration of Binance at the beginning of this month as a service provider for digital assets in France by the authorité of the Marchés Financier (AMF).

DAVID Princay, CEO of Binance France, described the registration as "an important milestone for crypto in Europe" and found that the new levels of protection to combat money laundering will contribute to increasing the acceptance and liquidity of crypto on the entire continent.

The crypto exchange also received a license for virtual assets from the Dubai supervisory authority in March, which enables it to offer pre -qualified investors and professional financial service providers.

Binance had previously come into conflict with the supervisory authorities about the alleged failure to apply for financial services licenses or register. said zhao 2021 that compliance is a trip.

In addition to the recent official permits from the company, Binance's focus on compliance has affected its attitudes and partnerships. Binance.Us hired Josh Wilsusen as his first Chief Policy Officer this week and recently added Krishna Juvvadi, the former manager of Uber Technologies, as head of the legal department.

Binance also teamed up this week with the data analysis company Kharon and the cloud-native screening provider Neterium to better recognize illegal crypto activities on its platform.

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The contribution Binance receives official approval in Italy is not a financial advice.