San Francisco-based cryptocurrency exchange Coinbase has secured approval from financial regulators in Italy, allowing it to continue serving Italian customers.
According to a blog post, the Organismo Agenti e Mediatori (OAM) has added a new requirement that mandates all crypto trading or custody companies to meet the criteria before continuing to offer services in Italy.
“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," said Nana Murugesan, Vice President, International and Business Development at Coinbase. "Gaining this regulatory approval is a testament to our close collaboration and positive working relationship with the Italian financial regulators."
Rival exchange Binance also secured regulatory approval in Italy with the OAM last month.