Binance Gets Green Light from Italy Regulators

Binance, a major cryptocurrency exchange Cryptocurrency Exchange A cryptocurrency exchange is an online platform that supports the exchange of various currencies for a cryptocurrency or digital asset.Comparable to a generalized financial exchange, a crypto exchange’s core function is to permit and encourage the buying and selling of cryptos.This is accomplished by producing a stable trading environment suitable for traders nested through different locations around the world. Sometimes a crypto exchange may be referred to as a digital currency exchange (DCE) f A cryptocurrency exchange is an online platform that supports the exchange of various currencies for a cryptocurrency or digital asset.Comparable to a generalized financial exchange, a crypto exchange’s core function is to permit and encourage the buying and selling of cryptos.This is accomplished by producing a stable trading environment suitable for traders nested through different locations around the world. Sometimes a crypto exchange may be referred to as a digital currency exchange (DCE) f Read this Term, announced on Friday that its branch in Italy had received regulatory approval from the country’s watchdog as a Cryptocurrency Service Provider through the ‘Organismo Agenti e Mediatori’ (OAM).

According to the press release, as a result of the creation of Binance Italy, a legal entity of the company in recent months, the company is now able to offer crypto products to its customers in Italy.

“Clear and effective regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term is essential for mainstream adoption of cryptocurrencies. 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. Binance has always put its users first and, with actions such as the implementation of the register, they can be confident that our platform is among the safest and most trustworthy in the world,” Changpeng Zhao ‘CZ’, the Co-Founder and CEO of Binance, said.

In addition, the company pointed out: “Regulatory approval represents an important milestone in Binance’s growth strategy for Italy and will allow the company to strengthen its presence in the country by opening offices and expanding the local team.”

Binance in Bahrain

The news comes after Binance announced that its branch in Bahrain received a Category 4 license as a crypto asset service provider (CASP) from the Central Bank of Bahrain (CBB). With this license, it will be able to offer a full suite of crypto services across the country, becoming the first exchange to receive such a license. Binance Bahrain will now be able to offer crypto exchange services under the supervision of the country’s regulators.

“The upgrade to a Category 4 license in the Kingdom of Bahrain is a landmark achievement for Binance and further signifies our commitment to being a compliance-first exchange. This will allow us to provide the full suite of products and services that users have come to expect from an exchange, in a safe and well-regulated environment,” Richard Teng, the Head of MENA at Binance, said on Thursday.