Coinbase Obtains Regulatory Approval to Provide Crypto Services in Italy

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Coinbase Obtains Regulatory Approval to Provide Crypto Services in Italy

Nasdaq-listed cryptocurrency exchange Coinbase has obtained regulatory approval to offer crypto services in Italy. “Coinbase is committed to bringing the power of our full product suite to customers across Europe,” the company said.

Coinbase Approved in Italy

Cryptocurrency exchange Coinbase (Nasdaq: COIN) announced Monday that it has secured regulatory approval to provide crypto services in Italy.

The company’s vice president of International and Business Development, Nana Murugesan, explained in a blog post:

Today, we’re able to announce a key milestone … securing approval from Italian regulators to provide ongoing crypto services to its residents.

“The new requirement implemented by the Organismo Agenti e Mediatori (OAM), mandated that all companies offering crypto trading, custody or other services, meet set criteria,” the executive described.

“Coinbase serves customers across almost 40 European countries through dedicated hubs in Ireland, the U.K., and Germany,” Murugesan detailed, emphasizing that “Coinbase is committed to bringing the power of our full product suite to customers across Europe.” The vice president continued:

We are in the process of strengthening our presence across Europe and have registrations or license applications in progress in several major markets in compliance with local regulations.

Murugesan clarified, “In each of these markets, our goal is to grow our customer base by launching the Coinbase suite of retail, institutional, and ecosystem products.”

Coinbase announced its European expansion plan last month. Murugesan revealed at the time that the company is in the process of expanding in France, Italy, Spain, and the Netherlands.

The Nasdaq-listed crypto exchange is not the first major trading platform to obtain regulatory approval in Italy, however. In May, rival crypto exchange Binance said that it has obtained regulatory approval to offer crypto products in the country.

What do you think about Coinbase getting regulatory approval to offer crypto services in Italy? Let us know in the comments section below.

Kevin Helms

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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