Cryptocurrency exchange Binance has been licensed as a digital asset market service provider in Italy. Binance Italy division has registered a local regulator – OAM.

Registration is part of our ongoing expansion in Europe, which is #Binance The first major registered exchange to offer crypto products to Italian customers.

We will continue to work with global regulators to bring the crypto industry mainstream.

— Binance (@binance) May 27, 2022

In July 2021, the Italian National Companies Commission and the Stock Exchange warned consumers that Binance is not authorized to provide investment services and conduct operations in the country.

“The registration of Binance Italy, a local legal entity of the group established a few months ago, allows the company to offer crypto products to Italian customers,” the company said in a statement.

Binance plans to strengthen its presence in the Italian market. The company will open a representative office in the country and expand its staff.

Previously, the exchange received a license from the French Financial Market Supervisory Commission as a service provider in the digital asset market.

Recall that in May 2022, the Central Bank of Bahrain granted Binance a license, allowing the platform to offer consumers “a full range of services for the exchange of crypto assets”.