Coinbase Obtains Regulatory Approval to Provide Crypto Services in Italy – Italian regulators have given the Nasdaq-listed cryptocurrency exchange Coinbase permission to provide cryptocurrency services. The company stated, Coinbase is committed to providing the strength of our comprehensive product suite to customers across Europe. Coinbase (Nasdaq: COIN), a cryptocurrency exchange, declared on Monday that it has received regulatory authorisation to offer cryptocurrency services in Italy.
Nana Murugesan, the company’s vice president of international and business development, detailed this 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.”
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According to the executive, “the Organismo Agenti e Mediatori (OAM) issued a new requirement mandating that all companies offering crypto trading, custody, or other services, meet set standards.”
Murugesan explained that “Coinbase is committed to extending the power of our whole product suite to customers across Europe” and added that “Coinbase serves customers across almost 40 European countries through dedicated hubs in Ireland, the U.K., and Germany.”
Continuing, the vice president said:
“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.”
By introducing the Coinbase suite of retail, institutional, and ecosystem products in each of these markets, Murugesan made it clear, “our goal is to grow our customer base.”
Last month, Coinbase made public its intention to expand into Europe. At the time, Murugesan disclosed that the business was planning to expand in the Netherlands, France, Italy, and Spain.
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The crypto exchange with a Nasdaq listing is not the first significant trading platform to receive regulatory license in Italy, though. Rival cryptocurrency exchange Binance said in May that it had received regulatory approval to offer crypto items in the country.
