After Binance, Coinbase exchange became a fully regulated crypto exchange in Italy.
Coinbase is a leading crypto exchange. This exchange is listed on the Nasdaq exchange. Due to highly compliance-based services, exchange is standing at 3rd rank in the whole crypto industry. Exchange provides crypto trade services for retail crypto investors and also provides crypto custody services for other big companies. This exchange has its talented crypto & blockchain team. The blockchain tools developed by the Coinbase team are useful among the secret government agencies, which is enough to explain the level & reach of Coinbase.
On 18 July, the Coinbase exchange announced via a new blog post that the exchange secured a Crypto Asset Service Provider license from Organismo Agenti e Mediatori (OAM). OAM is an Italian Anti Money Laundering regulator body.
The vice president of international and business development at Coinbase exchange, Nana Murugesan, said that approval of this license will help the Coinbase exchange to continuously provide crypto services alongside the launch of new crypto products & services in Italy.
It is worth noting that, the Coinbase exchange was already active in Italy with its limited number of services. Since 2019, Coinbase has been offering Coinbase card services.
At present the exchange provides services globally, which includes 40 European countries as a significant part of the coverage. Exchange is continuously working to expand its services in European countries.
“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.”
In late June, Exchange confirmed that it is working to expand its reach in European countries because of the current downturn in the crypto industry. The company is now planning to secure full crypto regimes in Spain, France, and the Netherlands.
Earlier Coinbase, Binance crypto exchange secured regulatory approval in Italy and also grabbed green signal to open its new headquarter in Milan.