News

Italy Approve Coinbase As A Cryptocurrency Asset Service Provider.

By receiving approval to provide cryptocurrency services in Italy, the American cryptocurrency exchange Coinbase is continuing its aggressive expansion into Europe.

On July 18, Coinbase reported that Organismo Agenti e Mediatori (OAM), the Italian anti-money laundering body, had granted it the Crypto Asset Service Provider accreditation.

Nana Murugesan, vice president of international and business development at Coinbase, wrote in a post that the clearance will enable Coinbase to keep providing cryptocurrency services and introduce new products in Italy.

Quite some time ago, Coinbase began offering its cryptocurrency services in Italy. As previously reported, as of June 2019, the exchange also provided Coinbase card services in Spain, Germany, and Italy.

Murugesan emphasized that through specialized centers in the United Kingdom, Germany, and Ireland, Coinbase works in close to 40 European nations.

In the announcement, Murugesan 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,”

The launch of the Coinbase suite of retail, institutional, and ecosystem services in each of those markets is part of Coinbase’s strategy to increase customer base, he continued.

The OAM has approved several cryptocurrency exchanges than Coinbase. The regulator gave the Binance cryptocurrency exchange permission to open its new headquarters in Milan in May 2022.

The approval is consistent with Coinbase’s stepped-up ambitions to expand in Europe. Due to the prolonged cryptocurrency winter, the exchange declared in late June that it was aggressively striving to expand in Europe. According to Murugesan, the business intends to register in a number of European nations, including Italy, Spain, France, and the Netherlands.

Coinbase announced its new intentions for European expansion immediately after cutting 18% of its personnel in mid-June due to the global economic downturn.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Patrick

CoinCu News

Victor

Recent Posts

Best Cryptos to Invest in December 2024: Qubetics Surges Past $2.6M as Solana Records Big Whale Pump and Polkadot Aims for $6

Best Cryptos to Invest in December 2024: Qubetics surges past $2.6M, Solana’s whale pump ignites…

1 hour ago

Bitcoin Trader Turned $100M in His 20s—Now Reveals 5 Altcoins to Build a $50M Portfolio, With Memecoins Leading the Way!

As Bitcoin reaches unprecedented heights and the market surges, he's highlighting five altcoins poised for…

3 hours ago

Which Crypto Will Explode in the 2024-2025 Bull Run?

With the crypto market reaching new peaks, many are eager to discover digital currencies poised…

3 hours ago

Dogecoin and Shiba Inu Approach $1, but All Eyes Are on XYZVerse’s Push to $10!

XYZVerse, blending sports passion with meme energy, is set to make a significant impact, uniting…

3 hours ago

Will Bitcoin Crash or Soar Past $105K in 2024?

Will Bitcoin Crash?" seems to be one of the most controversial questions, as the price…

4 hours ago

The Best Crypto for Passive Income? 10% Weekly Gains and 20% Final Surge—Qubetics Mirrors Cosmos’ Early Success!

There’s always that one coin people wish they hadn’t overlooked. For many, Cosmos ($ATOM) is…

5 hours ago

This website uses cookies.