Crypto.com becomes latest exchange to gain approval to operate in Italy

Quick Take

  • Crypto.com has been approved to operate in Italy as a crypto asset service provider. 
  • It follows Coinbase, which announced yesterday in a blog post that it had been approved. 

Crypto.com said on Tuesday that it has become the latest exchange to gain regulatory approval in Italy from the Organismo Agenti e Mediatori (OAM). 

This allows it to provide virtual currency and digital wallet services in the country in compliance with local regulations.

“We are committed to building lasting growth in the region and will continue working with regulators to deliver a wide range of products and services to our valued customers," said Kris Marszalek, co-founder and CEO of Crypto.com, in a press release.

According to the release, Crypto.com now has more than 50 million users worldwide. 

The exchange also recently received registration in Greece from the Hellenic Capital Market Commission in-principle approval for a Major Payment Institution License from the Monetary Authority of Singapore, and provisional approval of its Virtual Asset License from the Dubai Virtual Assets Regulatory Authority.

Crypto.com's approval follows that of Coinbase, which announced it had received the same approval yesterday. Binance Italy was also approved at the end of May. 


© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Author

Lucy is the NFT, gaming and metaverse editor at The Block. Prior to joining, she worked as a freelancer, with bylines in Wired, Newsweek and The Wall Street Journal, among other publications.