San Francisco-based cryptocurrency exchange Coinbase has secured approval from financial regulators in Italy, allowing it to continue serving Italian customers.
- According to a blog post, the Organismo Agenti e Mediatori (OAM) has added a new requirement that mandates all crypto trading or custody companies to meet the criteria before continuing to offer services in Italy.
- “Building a constructive relationship with regulators in every jurisdiction in which we operate is incredibly important as we march toward our mission of increasing economic freedom in every corner of the world," said Nana Murugesan, vice president of international and business development at Coinbase. "Gaining this regulatory approval is a testament to our close collaboration and positive working relationship with the Italian financial regulators."
- Rival exchange Binance received regulatory approval in Italy from the OAM last month.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.