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Crypto exchange Binance is now a registered entity in Italy after registering as a virtual asset service provider with Organismo Agenti e Mediatori (OAM), Italy's autonomous regulatory agency for the management of the lists of financial agents and credit brokers. This comes only three weeks after the company received regulatory approval in France. The new entity, called Binance Italy, will allow the company to offer crypto products to its customers in Italy. Binance CEO Changpeng Zhao said in a statement, "We thank the Ministry of Economy and Finance and the OAM for their efforts in defining and controlling the necessary requirements to operate in Italy in full transparency." After being barred from offering derivatives to Italian citizens last year, Binance can now function completely and easily in Italy. [embed]https://twitter.com/binance/status/1530217292684050432?t=1oUG5zBy0FmYsyzfJjoJgA&s=08[/embed]
Binance And Regulatory Approval
Binance has been a pioneer in getting regulatory approval in many nations as the crypto industry expands across Europe and the Middle East. Since the beginning of the year, the company has made public its goal to improve policy compliance in the nations it wishes to offer its services. Binance presently has an influence in the Middle East, having received crypto licenses from regulators in Abu Dhabi, Bahrain, and Dubai. It also earned its first regulatory license in a major European country, following one obtained earlier this month in France. In terms of regulatory approval, cryptocurrency exchanges are always one step ahead of one another. Other exchanges are anticipated to follow Binance's lead and establish relationships with European regulatory bodies.