Coinbase Secures Regulatory Approval In Italy

Coinbase Global Inc COIN has secured approval from Italian regulators to provide ongoing crypto services to its resident, the cryptocurrency exchange stated in a blog post.
The new requirement implemented by the Organismo Agenti e Mediatori (OAM) mandated that all companies offering crypto trading, custody, or other services, meet set criteria. COIN is among the first companies to meet these benchmarks.
Through dedicated hubs in Germany, the U.K., and Ireland, Coinbase provides customer services in around 40 different European nations. Following local regulations, it is working to strengthen its presence across Europe.
“As we continue to grow across Europe and other regions, maintaining our strong regulatory relationships will ensure that we will continue to bring to market the products that our customers want through the most trusted and secure platform in the cryptoeconomy,” Commented Nana Murugesan, Vice President, International, and Business Development.
Price Action: COIN shares are trading higher by 6.43% at $57.25 during the premarket session on Monday.