After crypto businesses explored the nooks and corners of Asia, the Middle East and Europe seem to be their latest choice. While several Middle Eastern countries have been welcoming crypto, it isn’t the same with Europe. Italy, however, has been an exception. An array of crypto exchanges have been bagging licenses to legally operate in the country. Crypto.com emerged as the latest platform to acquire a regulatory nod from Italian financial watchdogs.
In a recent press release, the exchange announced that it had acquired the regulatory approval of Organismo Agenti e Mediatori [OAM].
With this, the exchange will be allowed to offer an array of products and services to its Italian customers. Speaking about the same, the co-founder and CEO of Crypto.com, Kris Marszalek further said,
“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.”
OAM recently made it mandatory for crypto businesses to entail regulatory approval to operate in the country. Just yesterday, Coinbase garnered a green signal to provide its services to Italian customers. Binance acquired a license about a month ago.
Crypto.com in Italy
It should be noted that Crypto.com already has a presence in Italy. Back in 2021, the exchange partnered up with Lega Serie A to further oversee the Coppa Italia, a premier annual club tournament along with Serie A.
Furthermore, similar to its counterparts, Crypto.com seemed to be eyeing a Euro expansion. The firm had recently registered itself in Greece after the Hellenic Capital Market Commission gave it a green signal.
Additionally, Crypto.com became one of the only prominent crypto exchanges to score an in-principle approval for a Major Payment Institution License from the Monetary Authority of Singapore [MAS]. It managed to snag a Virtual Asset License from the Dubai Virtual Assets Regulatory Authority as well.