Binance gains licence to provide digital-asset services in Italy

The cryptocurrency exchange Binance has obtained a licence to provide digital asset services on the Italian market. Binance Italy, the local subsidiary, registered with the local regulator — OAM.

The registration is part of our ongoing expansion in Europe, which also makes #Binance the first major exchange to be registered to offer crypto products to Italian customers.

We will continue to work with global regulators to bring crypto industry into the mainstream.

— Binance (@binance) May 27, 2022

In July 2021, the Italian National Commission for Companies and the Stock Exchangewarned consumers that Binance was not authorised to provide investment services or to operate in the country.

「The registration of Binance Italy, the Group’s local legal entity formed a few months ago, enables the company to offer crypto products to Italian clients,」 the company said.

Binance intends to strengthen its presence in the Italian market. The company will open a representative office and expand its staff in the country.

Earlier the exchange obtained a licence to provide digital asset services from the French financial markets regulator.

In May 2022, the Central Bank of Bahrain issued Binance a licence enabling the platform to offer consumers ‘the full range of crypto-asset exchange services’.