Crypto.com got its regulatory approval to provide services in Italy and it registered the Trade Republic as a crypto operator in the country as well so let’s read more today in our latest cryptocurrency news.
The top financial regulator in Italy – Organisimo Agenti e Meditatori gave approval to the Crypto.com exchange to provide a range of products and services for Italian clients in compliance with domestic law. The German investment platform Trade Republic expanded its presence to the Southern European country so now Crypto.com can register as a crypto operator. Crypto.com got its regulatory approval as it keeps on expanding its international reach despite the crypto winter and the bad consequences.
Because of the decline in the market and the outflow of investor interest with the company having to lay off a huge chunk of its workforce and remain uknown whether the redundancy spree will be continued in the near future but the latest approval from the Italian watchdog can act as a stepping stone fo rthe company and stabilize the foundations. As per the document shared by Kris Marszalek:
“We are excited to receive this registration in Italy and view it as a major step forward for CryptoCom. 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.”
Another company that got the green light from the Italian regulators was the Berling-based company Trade Republic the company started providing the services in the country today it is registered as a crypto operator. Established in 2015, the organization has over a million customers and a $900 million financing round that boosted the Trade Republic valuation to $1 million apart from Italy it provides digital asset services for Spanish users as well.
The leading American crypto exchange Coinbase obtained a license from the OAM to operate as a digital asset service provider and the company is outlined that one of the few entities that met with new requirements of the local regulators. The obligations include abiding by AML laws as Vice President Nana Murugesan explained:
“Gaining this regulatory approval is a testament to our close collaboration and positive working relationship with the Italian financial regulators.”
The presence in Italy is a part of the Coinbase strategy to expand its operations in Europe, Switzerland, Spain, and France as some nations have already given the green light.
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