The crypto asset exchange platform, Crypto.com, received regulatory approval from Italy’s primary Anti-Money Laundering regulator, Organismo Agenti e Mediatori (OAM).
With over 50 million customers across the globe, this regulatory approval by OAM will help Crypto.com to expand its services to Italian customers in the Mediterranean region.
Crypto.com was founded in 2016 and is currently one of the fastest-growing cryptocurrency platforms in the world. Crypto.com is built on a strong foundation of trust and privacy. They aim to create a fair and equitable digital ecosystem through innovation for the coming generations
Italy’s attitude towards Crypto
Italy is the third-largest market in the European Union by gross domestic product, and crypto service providers are looking to expand there. Recently, Coinbase received OAM approval to start conducting business in the Mediterranean nation. The OAM approved Binance’s entry into the Italian market in May.
Despite having an unstable relationship with cryptocurrencies and other digital assets, the Italian government seems keen to adopt blockchain technology.
At the beginning of this month, the Italian Ministry of Economic Development announced that some blockchain projects could be eligible for up to $46 million in government funding.
The Hellenic Capital Market Commission recently registered Crypto.com in Greece. The Monetary Authority of Singapore granted in-principle approval for a Major Payment Institution License to Crypto.com. Moreover, recently the Dubai Virtual Assets Regulatory Authority granted preliminary approval for its Virtual Asset License. Kris Marszalek, co-founder, and CEO of Crypto.com revealed that this was a major progressive step for Crypto.com.