Summary:
- Major exchange Crypto.com has won a license to operate virtual asset services in Italy.
- The approval was granted by the Organismo Agenti e Mediatori (OAM), Italy’s top financial watchdog.
- Binance received similar approval from Italy’s regulator in May.
- Crypto.com previously received the regulatory nod in Greece.
- The crypto exchange also has licenses in Asia and the Middle East.
- Italy is the latest jurisdiction as the crypto trading platform amps up global expansion efforts.
Digital asset exchange Crypto.com received regulatory approval from Italy’s top financial watchdog on Tuesday and the platform can now offer its services to customers in the country as the company intensifies expansion efforts in Europe and across the globe.
The Singapore-located crypto exchange bagged a crypto license that allows the platform provides virtual currency and digital wallet services to Italian investors, per Tuesday’s announcement.
Italy’s head regulatory body, the Organismo Agenti e Mediatori (OAM), granted the license to Crypto.com as confirmed by the exchange via an official statement and a post shared on Twitter.
The platform’s co-founder and CEO Kris Marszalek opined that the latest license signals a pivotal moment for the company as regards growth.
We are excited to receive this registration in Italy and view it as a major step forward for Crypto.com. We are committed to building lasting growth in the region and will continue working with regulators to deliver a wide range of products and services to our valued customers.
Crypto.com with its over 50 million worldwide users and more than $650 million daily trading volume also bagged approval to operate services in Greece as part of its dive into European markets.
Crypto.com, Binance, And Other Exchanges Expand In Europe And The Middle East
Crypto.com joins leading exchange Binance as a regulated digital asset entity in Italy. Both exchanges along with a host of others like FTX and Kraken have set their eyes on multiple jurisdictions in 2022, per reports.
Marszalek’s firm also bagged a provisional crypto license from Dubai’s Virtual Assets Regulatory Authority (VARA) and has a presence in the United Arab Emirates (UAE) by virtue of the approval.