After the 2021 Ban, Binance Gets Clearance to Operate in Italy


Mohit Kamboj

Binance is a place where many different types of digital currencies can be traded. Brokers from all over the world have been able to use the site since it went live in 2017. When you want to buy cryptocurrency, Binance lets you choose between bank transfers and credit/debit cards. There are countless platforms, such as BitProfit App, that can allow you to learn more about bitcoin trading.

Binance has only been around for a short time, but it has already gotten a lot of users and become very popular. Binance is one of the most popular exchanges people use. Even though it’s only been around for four years, there are currently more than 100 million people using it.

It also trades money worth $2.4 trillion. But it’s not just a place to buy and sell things and change money. Binance gives its users extra services, such as a Visa debit card for digital assets, a way to lend and borrow cryptocurrency, and a place to store cryptocurrency. The second choice lets you make money on investments you’ve already made with digital money.

Binance, a cryptocurrency exchange, announced on Friday that its legal entity in Italy has signed up with the country’s regulatory body. This is what the company is doing because it wants to get a bigger share of the European market.

Binance, the cryptocurrency exchange with the most daily trading volume in the world, has announced that it has registered Binance Italy as a digital asset service provider with Organismo Agenti e Mediator, the Italian agency in charge of keeping track of the listings of financial institutions. The most popular cryptocurrency in the world is Binance.

Binance just got the OK to do business in France a few weeks ago. The exchange’s management said that this country would be where the company’s European headquarters would be.

After a small glitch, Binance was able to get its registration

If the company is registered in Italy, it could make the exchange more reliable and less likely to be used to launder money.

Binance is one of 14 companies in Italy that deal with virtual assets and are registered with the OAM. Businesses in Italy that deal with cryptocurrencies are regulated by the OAM.

The exchange’s plan to grow in Italy took a big step forward when the government said it was okay. It will help the company get a stronger foothold in the country by letting them open offices there and hire more people to work there.

The places where Binance can do business will soon grow

Binance is the first company from the European Union to be able to register in France. The company is now trying to get registered in Austria, Portugal, Spain, the Netherlands, and Switzerland.

In March, Abu Dhabi, Bahrain, and Dubai all gave Binance permission to do business. Several government agencies, including ones from the UK, Germany, and Italy, told the company the year before that the exchange was operating illegally in their countries because it didn’t have the right licenses.

As of this moment, 13 more cryptocurrency platforms have joined the OAM. Some of these platforms are Bitpanda, CryptoSmart Srl, Tensora Srl, Young Platform, and Blockeras Srl. The OAM says that about 28 more operators have joined the preliminary pre-registration phase.

The year before, a survey in Italy showed that many people didn’t plan to invest in bitcoin. Statista did a survey, and the results show that about 40% of people want to learn more about bitcoin but don’t know-how.

In a recent poll by OAM, about 11% of people said they knew little to nothing about cryptocurrencies, while 64% said they had “excellent financial understanding” and were likely to invest in cryptocurrencies.

Binance takes a lot of steps to keep its users safe. For instance, it has a system that gives you two ways to show who you are. Not only that, but hackers are willing to pay people with their own money if they find a way to win. Still, like every other exchange, Binance has some risk. Being very careful with it is the best thing to do.