Crypto.com secures regulatory approval to operate in Italy

Crypto.com, one of the world’s largest cryptocurrency exchange platforms, has received regulatory approval to offer its services in Italy.

The platform said in an announcement on Tuesday that it had secured the nod from the Organismo Agenti e Mediatori (OAM).

Regulatory approval is ‘a major step forward’

The approval allows Crypto.com, which has seen aggressive expansion over the past several months, to offer its suite of crypto products and digital wallet services in the country. The milestone means the exchange’s activities will comply with local regulations.

“We are excited to receive this registration in Italy and view it as a major step forward for Crypto.com,” said Kris Marszalek, the exchange’s co-founder and CEO.

Marszalek, commenting on his company’s move to get registered, added:

“We are committed to building lasting growth in the region and will continue working with regulators to deliver a wide range of products and services to our valued customers.”

Crypto.com, founded in 2016 and currently counting over 50 million users globally, has added the Italian registration to the one recently received from Greek authorities.

The platform also has an in-principle approval from the Monetary Authority of Singapore, and a provisional Virtual Asset License from Dubai’s Virtual Assets Regulatory Authority (VARA).

The regulatory greenlight sees Crypto.com join other top cryptocurrency firms Binance and Coinbase in seeking registration and getting approval in Italy.