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Binance again spreads its wings, registers as a virtual asset service provider in Italy

Image source: by City A.M

Binance the most popular cryptocurrency exchange platform keeps spreading its wings all over the world as it has been handed regulatory approval in Italy.

According to the City A.M report, Binance Italy is now registered as a Cryptocurrency Service Provider with the 'Organismo Agent I e Mediatori' (OAM), as requested by Italian legislation on digital assets.

Recently, Enat DigitalBiz reported that the firm secured a full category 4 license as a crypto-asset service provider in a bid to free service operation in Bahrain.

The latest registration in Italy allows Binance to offer crypto products to its customers in the country as the company continues its drive to operate in compliance with local regulations regarding cryptocurrencies.

In his remake the co-founder and CEO of Binance Changpeng 'CZ' Zhao, said:
"Clear and effective regulation is essential for mainstream adoption of cryptocurrencies. We thank the Minister 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 announcement comes less than a month after the firm is given the thumbs up to operate in France, where Binance chiefs hinted they would establish the company's European hub.

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