Digital asset exchange Crypto.com has received approval from Italian regulators to offer its services in the Mediterranean country, a move the company says fits with its vision of “building lasting growth in the region.”
On Tuesday, Crypto.com announced that it had officially received registration and regulatory approval from the Organismo Agenti e Mediatori, also known as OAM, the main Italian regulator against money laundering. The approval gives Crypto.com the ability to offer its products and services to Italian customers.
Italy
We’re proud to announce that https://t.co/vCNztATSCO has secured regulatory approval in Italy, from the Organismo Agenti e Mediatori (OAM).
Full details https://t.co/JNfY5DNBtA pic.twitter.com/os6HpjsE6f
— Crypto.com (@cryptocom) July 19, 2022
good morning, italy
We are proud to announce that https://t.co/vCNztATSCO has obtained regulatory approval in Italy, from the Organismo Agenti e Mediatori (OAM).
Crypto.com claims to have more than 50 million customers worldwide. In recent months, the exchange has received regulatory licenses to operate in Greece, Singapore, and Dubai.
Italy is the third largest market in the European Union by gross domestic product, and cryptocurrency service providers are targeting the country for expansion.. As Cointelegraph reported, United States-based crypto exchange Coinbase recently obtained approval from the OAM to begin operations in the Mediterranean country. In May, Binance received the green light from the OAM to serve the Italian market.
Although Italy’s regulatory approach to cryptocurrencies is far from uniform, the government has wanted to promote the adoption of blockchain technology. Earlier this month, the Italian Ministry of Economic Development announced that some blockchain projects could be eligible for up to $46 million in government grants.
Meanwhile, in June, Italy’s major stock exchange Borsa Italiana listed a so-called “Bitcoin-themed” ETF, offering BTC exposure to Italian institutional investors and retirement planners.
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