Coinbase gains license in Italy

US crypto exchange Coinbase has been given the go-ahead to operate as a crypto asset service provider in Italy.

In a blog post published on July 1, titled Building Across Europe, the exchange made clear its hopes for European expansion.

Today, the company announced it had met all “regulatory requirements” since registering with the Organismo Agenti e Mediatori (OAM) in May and will continue to offer its crypto services across Italy with a “clear path to bring new products and features to market in the country”.

Coinbase now regulates and services customers across nearly 40 European countries, with hubs situated throughout the UK, Ireland and Germany.

This month, the European Union stated that any companies dealing with crypto must be re-licensed and obtain customer safeguards to issue and sell digital tokens.

Coinbase VP for international and business development Nana Murugesan said: “Building a constructive relationship with regulators in every jurisdiction in which we operate is incredibly important as we march toward our mission of increasing economic freedom in every corner of the world.

“We are in the process of strengthening our presence across Europe. Our goal is to grow our customer base by launching the Coinbase suite of retail, institutional, and ecosystem products.”

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Updated: 07/18/2022 — 15:00