Coinbase secures Crypto Asset Service Provider approval in Italy 🇮🇹 | by Coinbase | Jul, 2022
Coinbase secures Crypto Asset Service Provider approval in Italy 🇮🇹
Tl;Dr: By meeting the regulatory requirements, Coinbase will continue to offer crypto services in Italy, and has a clear path to bring new products and features to market in the country.
By Nana Murugesan, Vice President, International and Business Development
As discussed in our recent blog post, Coinbase is committed to bringing the power of our full product suite to customers across Europe. Today, we’re able to announce a key milestone in that journey: securing approval from Italian regulators to provide ongoing crypto services to its residents. The new requirement implemented by the Organismo Agenti e Mediatori (OAM), mandated that all companies offering crypto trading, custody or other services, meet set criteria. We’re proud to be among the first companies to meet these benchmarks.
Coinbase serves customers across almost 40 European countries through dedicated hubs in Ireland, the UK, and Germany. 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 each of these markets, our goal is to grow our customer base by launching the Coinbase suite of retail, institutional, and ecosystem products.
“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. Gaining this regulatory approval is a testament to our close collaboration and positive working relationship with the Italian financial regulators. As we continue to grow across Europe and other regions, maintaining our strong regulatory relationships will ensure that we will continue to bring to market the products that our customers want, through the most trusted and secure platform in the cryptoeconomy.” Nana Murugesan, Vice President, International and Business Development.