Binance cryptocurrency exchange has just scored a big win as its Italian offshoot, dubbed Binance Italy, has received approval to operate in the country by the Organismo Agenti e Mediatori (OAM).
With the new license, Binance can now work, and offer its products and services to Italians, marking the firm’s gradual influence growth in the European Economic Area (EEA).
Back in 2021, several regulators around the world, including those from Italy warned Binance to stop offering exchange-related activities on their shores.
With the restrictions from regulators and watchdogs mounting massively, CEO, Changpeng Zhai, known on social media by ‘CZ’ changed the firm’s strategy which now prioritizes inking custom-made relationships with regulators in each region.
The approval of Binance Italy is a testament that the new model is working for the company as it has also received approvals from regulators in Dubai amongst others.
"Clear and effective regulation is essential for mainstream adoption...
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