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Top cryptocurrency exchange BINANCE on Friday announced that its Italy division received regulatory approval in the European country. Earlier this month, Binance received regulatory nod to function as a Digital Asset Service Provider in another European country, France.
On Friday, the leading exchange received regulatory approval in Italy through registration as a Cryptocurrency Service Provider. The registration was obtained with the Organismo Agenti e Mediatori (OAM), complying with the Italian laws on crypto transactions.
Binance Italy Recognition
Binance made the announcement stating,
“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.”
The exchange further said the regulatory approval represents an important milestone in its growth strategy for Italy. This will allow the company to strengthen its presence in the country by opening offices and expanding the local team, it added.
