Crypto exchange Binance has received regulatory approval from Italy’s financial regulator to operate as a cryptocurrency service provider in the country. “Clear and effective regulation is essential for mainstream adoption of cryptocurrencies,” said Binance CEO Changpeng Zhao.

Binance Now Licensed in Italy

Binance announced Friday that Binance Italy “has received regulatory approval” through registration as a Cryptocurrency Service Provider with the Organismo Agenti e Mediatori (OAM), as required by the Italian legislation on crypto assets.

The announcement states:

The registration of Binance Italy … allows the company to offer crypto products to its customers in Italy.

Binance Italy, established in recent months, is the legal entity of the Binance Group in Italy.

Earlier this month, Binance said it has received approval from the French financial regulator, the Autorité des marchés financiers (AMF), to operate as a registered Digital Asset Service Provider (DASP). The crypto exchange also recently received licenses in Bahrain and Dubai.

Changpeng Zhao (CZ), co-founder and CEO of Binance, commented:

Clear and effective regulation is essential for mainstream adoption of cryptocurrencies.

What do you think about Binance receiving approval in Italy to operate a crypto exchange? Let us know in the comments section below.