The German investment bank Trade Republic and Singapore’s cryptocurrency exchange company Crypto.com announce winning crypto operator license from Italy’s OAM. Crypto.com, after earlier registering as a crypto operator in Greece, and Trade Republic in Spain, now follow the footsteps of Binance and Coinbase.
“We are excited to receive this registration in Italy and view it as a major step forward for Crypto.com. We are committed to building lasting growth in the region and will continue working with regulators,” says Kris Marszalek, co-founder, Crypto.com.
Italy’s brokerage regulator OAM or Organismo degli Agenti e dei Mediatori, maintains a register of cryptocurrency operators in Italy meeting set standards. It regulates credit brokers and financial agents, implementing anti-money laundering standards.
Trade Republic is duly registered with Italy’s market regulator CONSOB, the Italian Companies and Exchange Commission. It also offers shares, derivatives, and ETF investment services.
Financial regulators globally are having a tough time determining the regulatory way forward for the cryptocurrency market. Consumer protection, financial instability, and the illegal use of digital currency are all pertinent concerns for the regulators.
