Italy Approves Coinbase As A Crypto Asset Service Provider

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Last Updated on July 18, 2022 by Bitfinsider

Not too long ago, Coinbase has offered its bitcoin services in Italy. As of June 2019, Coinbase card services are available there.

By receiving approval to provide cryptocurrency services in Italy, the American cryptocurrency exchange Coinbase is continuing its aggressive expansion into Europe.

On July 18, Coinbase revealed that Organismo Agenti e Mediatori (OAM), the Italian anti-money laundering body, had granted it the Crypto Asset Service Provider accreditation.

Nana Murugesan, vice president of international and business development at Coinbase, wrote in a post that the clearance will enable Coinbase to keep providing cryptocurrency services and introduce new products in Italy.

Quite some time ago, Coinbase began offering its bitcoin services in Italy. As mentioned previously as of June 2019, the exchange also provided Coinbase card services in Spain, Germany, and Italy.

Murugesan emphasized that through specialized centers in the United Kingdom, Germany, and Ireland, Coinbase works in close to 40 European nations.

Murugesan said: “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.” By introducing the Coinbase suite of retail, institutional, and ecosystem services in each of those markets, Coinbase hopes to increase the size of its customer base.

Prior to this, the OAM has approved several cryptocurrency exchanges besides Coinbase. The authority gave the Binance cryptocurrency exchange license in May 2022, allowing the company to establish its new headquarters in Milan.

The approval is consistent with Coinbase’s stepped-up ambitions to expand in Europe. Due to the prolonged cryptocurrency winter, the exchange declared in late June that it was aggressively striving to expand in Europe. According to Murugesan, the business intends to register in a number of European nations, including Italy, Spain, France, and the Netherlands.

Coinbase announced its new intentions for European expansion immediately after cutting 18% of its personnel in mid-June due to the global economic downturn.


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Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.


Hardware wallets are safe and secure devices that can be used offline. They keep your cryptocurrency offline, making it impossible for you to be hacked. To find out more on the leading hardware wallets, you may view our reviews here: Ledger & Trezor
Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.

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