Binance Returns to Italy With Regulator Approval – Now What?

2022-5-29 21:15

Binance returns to Italy after receiving regulatory approval for a local entity from Italian authorities, on Friday.

Last July, Italy banned Binance from offering services to users in the country, stating that the exchange was “not authorized to provide investment services and activities,” while also prohibiting the exchange from making its website available to people in Italy.

Binance, the world’s largest cryptocurrency exchange by trading volume is one of 14 virtual asset operators to be registered with Italy’s Organismo degli Agenti e dei Mediatori (OAM), which supervises crypto operators in Italy.

This news comes three weeks after receiving approval from the French government to also offer services in the country. Binance’s registration with Italian regulators also comes shortly after regulators released requirements for companies to be registered to establish a physical presence, and agree to comply with AML regulations.

With this new registration, Binance will now be able to resume offering crypto products in the country and open offices, the exchange said.

“Clear and effective regulation is essential for mainstream adoption of cryptocurrencies,” Binance CEO Changpeng Zhao (CZ) told Bloomberg.

Binance joins other registered exchanges in Italy

Binance joins 13 other crypto platforms currently registered with OAM, including Bitpanda, Young Platform, Tensora Srl, Blockeras Srl, and CryptoSmart Srl. The OAM also revealed that 28 other operators have embarked on an initial pre-registration application.

Registrations opened on May 16, granting applicants a 60-day window to file applications, which cost approximately $536 to file, as of press time. Upon approval, registered entities must submit quarterly reports to the OAM detailing their operations in Italy and send a summary of operations to each customer.

A recent OAM survey revealed that 11% of respondents (774 adults, male and female) did not know anything about cryptocurrencies – while 64% claimed they had “good financial knowledge” and a propensity to invest into crypto.

Expanding into Germany

Last week, Binance also announced its renewed attempts at pushing into Germany, following its approval from French regulators three weeks ago. The crypto exchange also recently received regulatory approval in Dubai, Abu Dhabi, and Bahrain.

What do you think about this subject? Write to us and tell us!.

The post Binance Returns to Italy With Regulator Approval – Now What? appeared first on BeInCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Binance Coin (BNB) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $562.5
Капитализация $0 Rank 99999
Цена в час новости $ 303.5 (-100%)

approval binance italy returns regulator friday beincrypto

approval binance → Результатов: 44


Фото:

Binance wins regulatory approval in France; what could this mean for BNB?

BNB BNB/USD is the native cryptocurrency token that is used as a means of paying for transactions and trading fees on the Binance cryptocurrency exchange, as well as across the entire ecosystem. France’s regulatory approval as a catalyst for growth Binance has officially been granted approval in France to operate its cryptocurrency exchange.

2022-5-5 13:22


Euphoria is Back Ahead of ETF Listings: Bitcoin Hits $63k and Ether Nearly $4k as NYSE Certifies “Approval for Listing”

OI on Bitcoin futures has hit a new ATH on both Binance and CME, while annualized daily basis on Binance is closing on 13%. The post Euphoria is Back Ahead of ETF Listings: Bitcoin Hits k and Ether Nearly k as NYSE Certifies “Approval for Listing” first appeared on BitcoinExchangeGuide.

2021-10-16 16:19


Фото:

Binance Vows To Seek Licensing Approval And Increase KYC Compliance With Regulators Globally

Binance has launched a global campaign to obtain licensing from local regulatory authorities including in Asia-Pacific, EMEA, and Latin America, according to the exchange’s CEO ChangPeng Zhao (CZ). CZ said on Twitter that the exchange held an hour-long press conference to share the active steps it’s taking to build on compliant efforts with local financial regulators […]

2021-7-29 17:46


With Or Without A Bitcoin ETF, The Crypto Industry Will Grow – Says Binance CEO CZ

The CEO of one of the biggest exchange, Binance, aired his view in an ask-me-anything live stream video interview, on the ongoing Bitcoin ETF approval proposal submitted to SEC by Cboe Exchange. Changpeng Zhao, popularly known as CZ said he doesn’t think Exchange Traded Funds (ETFs) are very important to the growth of the crypto […] The post With Or Without A Bitcoin ETF, The Crypto Industry Will Grow – Says Binance CEO CZ appeared first on ZyCrypto.

2019-2-7 19:05


Фото:

Binance Donates Alleged Multimillion Dollar Listing Fees To Charity In New Shake-Up

Cryptocurrency exchange Binance has appeared to end its controversial listing fee policy for new altcoins and plans to donate all funds received to charity.   Developers To ‘Propose’ New Fees In a blog post on October 8, Binance said the change would take effect “immediately” and would also see developer teams themselves select how much to “pay” to list their coin following approval.

2018-10-8 18:00