Binance Registers Legal Entity in Italy Amid European Move

Binance recently secured regulatory approval in France as it continues its push into the European market.

By Oliver Knight

May 27, 2022 at 4:32 p.m. UTC

Updated May 27, 2022 at 5:00 p.m. UTC

Oliver Knight

Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.

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Cryptocurrency exchange Binance has registered Binance Italy as a virtual asset service provider with Organismo Agenti e Mediatori (OAM), a regulatory agency in that country for managing the lists of financial agents.

"Clear and effective regulation is essential for mainstream adoption of cryptocurrencies," Binance CEO Changpeng Zhao, said in a statement. "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."
The company can now offer crypto services in Italy less than one year after being labelled as "unauthorized" by the financial regulator CONSOB last July. Binance was also prevented from offering derivatives to Italian citizens last year.
The move comes weeks after Binance – continuing with its global expansion – secured regulatory approval with the AMF in France, as well as licenses in Bahrain and Dubai.

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