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"Leading American cryptocurrency exchange Coinbase said it had received regulatory approval from the Organismo Agenti e Mediatori (OAM) to operate as a crypto asset provider in Italy. The license allows the exchange to continue to offer its services to customers in the country. One of the First Announcing the development today, Coinbase said it had become one of the first crypto firms to meet the new requirements of Italian regulators, which mandate all crypto-related firms servicing customers in the country to secure regulatory approval. The OAM’s requirements demand foreign crypto companies in Italy to put strict anti-money laundering measures in place before servicing residents. “Gaining this regulatory approval is a testament to our close collaboration and positive working relationship with the Italian financial regulators,” said Nana Murugesan, Coinbase’s Vice President of International and Business Development. Coinbase Seeks European Expansion The move is part of Coinbase’s efforts to strengthen its foothold in European markets. Earlier this month, the company revealed that it intends to acquire regulatory nods in more European countries. With the latest milestone, Coinbase now holds operational licenses in Ireland, Germany, the United Kingdom, and Italy. The exchange also intends to seek regulatory compliance in France, Spain, Switzerland, and the Netherlands."
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