Crypto.com announced on July 19 that it has received regulatory approval as a crypto provider from the Italian watchdog Organismo Agenti e Mediatori (OAM).
The announcement comes on a daily basis after Coinbase confirmed that it’s also received approval in Italy, amid its plans to expand in Europe.
Several operators received a go-ahead in Italy
In the past months, Binance also announced approvals in several European countries.
Kris Marszalek, Co-Founder and CEO of Crypto.com said, “We are excited to receive this registration in Italy and look at it as a significant discovery for Crypto.com.”
“We are committed to putting together lasting growth within the region and can continue working with regulators to deliver a good range of products and services to our valued customers,” Marszalek added.
Previously, Crypto.com reportedly received a green light from Greece’s Hellenic Capital Market Commission, Singapore’s Monetary Authority, and Dubai’s Virtual Assets regulatory agency.
Germany’s Trade Republic registers in Italy
Amid platforms expanding operations in Italy and Europe at large, reports today have revealed that German investment platform Trade Republic is that the latest to register within the country as a cryptocurrency operator.
On July 14, OAM had reminded in an exceedingly circular that July 15 would be the last date to submit applications for registration with the regulator. It had stated in an exceedingly translated release, “The deadline by which already active cryptocurrency operators, even online , in our country, will must register within the Register held by the OAM expires tomorrow. The Body reminds this, underlining that anyone who continues to work without having submitted the relevant application for registration are going to be considered abusive.”
While the platform started operating in Italy at the tip of 2021, it reportedly registered with the authorities last week.
As per Reuters, the German broker is additionally operating in Spain.
Previously, Trade Republic received a license from Italy’s market regulator Consob, to supply investments in shares, derivatives, and exchange-traded funds. Notably, Italy has also been pushing blockchain startups.
Earlier this month, the Ministry of Economic Development announced that starting September, blockchain companies are eligible to use for a government subsidy program worth $46 million.
