Binance gets approval to operate in Italy, will open office in Milan
Binance, one of the largest cryptocurrency exchanges in the world, has strengthened its European footprint by registering and receiving regulatory license in Italy. At the beginning of May, a Binance corporation had registered to operate in France.
Binance Italy has acquired regulatory permission in the country, according to the exchange’s official blog, after registering as a Cryptocurrency Service Provider with Organismo Agenti e Mediatori (OAM), as required by Italian law.
A Binance representative told Cointelegraph that the company’s headquarters will be located in Milan, which is regarded as a major economic center in Italy. The official said the following about where Binance plans to get a license next:
“Everywhere we can, we are committed to securing proper permits and registrations.”
Binance made a series of advances on the Middle Eastern market before the announcements of operating licenses in France and Italy. The exchange received regulatory clearance in Bahrain and Dubai in March, and in April, the company received in-principle authority to operate in Abu Dhabi.
CZ announced the launch of “Objective Moon,” a $115 million (100 million euro) programme in November 2021 to build the blockchain and crypto ecosystem in France and Europe.