Crypto exchange Binance has just been awarded a digital asset market service provider license in Italy.
Binance's division in Italy has registered with the local regulator, the regulator for agencies and brokers (OAM, for its Italian acronym).
In July last year, Italy's National Commission for Companies and Stock Exchange warned consumers Binance was not authorized to provide investment services and conduct transactions in the country.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.
The platform owned by Changpeng Zhao has written:
"The registration of Binance Italy, legal entity of the Group in the country established in recent months, allows the company to offer crypto products to its customers in Italy."
The exchange intends to strengthen its presence in the Italian market. To this end, it will open a representative office and expand its workforce in the country.
Binance has previously received a license as a service provider in the digital assets market from the French Financial Market Supervisory Commission.