Binance set to move into Europe

Exchange of cryptocurrencies Binance has registered as a virtual asset service provider with Organismo Agenti e Mediator, a regulatory body in Italy that keeps track of financial agents' licenses.

The acceptance of cryptocurrencies by the general public requires clear and effective regulation, "Changpeng Zhao, CEO of Binance, stated in a statement. "We appreciate the Ministry of Economy and Finance's and the team's work in defining and enforcing the rules for operating in Italy with complete openness.

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After being labeled "unauthorised" by the financial authority CONSOB in July, the company can now sell crypto services in Italy. Last year, Binance was also barred from selling derivatives to Italians. The decision comes only weeks after Binance received regulatory permission from the AMF in France and licenses in Bahrain and Dubai as part of its worldwide development.