{"id":17461,"date":"2023-02-09T18:48:31","date_gmt":"2023-02-09T18:48:31","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/lbank-secures-virtual-asset-provider-registration-to-operate-in-italy-press-release-bitcoin-news\/"},"modified":"2023-02-09T18:48:31","modified_gmt":"2023-02-09T18:48:31","slug":"lbank-secures-virtual-asset-provider-registration-to-operate-in-italy-press-release-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/lbank-secures-virtual-asset-provider-registration-to-operate-in-italy-press-release-bitcoin-news\/","title":{"rendered":"LBank Secures Virtual Asset Provider Registration to Operate in Italy \u2013 Press release Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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press release<\/p>\n<\/div>\n

PRESS RELEASE. <\/strong>Global crypto exchange LBank has registered as a Virtual Asset Provider with Italian regulator Organismo degli Agenti e dei Mediatori (OAM). The regulatory approval allows the exchange to offer a range of services and products to Italian users.<\/b><\/p>\n

On the 1st of February 2023, LBank completed <\/span>its registration with the OAM<\/span><\/a> as a Virtual Asset Provider, as required by Italian legislation on crypto assets. The global crypto exchange with over 9 million users will now be able to offer services and products to Italian traders. The regulatory nod also allows LBank to open offices in Italy and expand its team.<\/span><\/p>\n

By registering with the OAM, LBank joins a growing line-up of crypto exchanges who recently gained regulatory approval in Italy. After the official register of cryptocurrency traders was opened by the regulatory body <\/span>on 18 May 2022<\/span><\/a>, world\u2019s largest crypto exchange Binance secured a spot <\/span>just 9 days later<\/span><\/a>. Other key industry players like Coinbase, Crypto.com, Bitstamp and BitMEX have also signed on since.<\/span><\/p>\n

\u201cWe appreciate the efforts of the Ministry of Economy and Finance and the OAM in defining and enforcing industry standards in Italy to operate with full transparency. Which is an essential part of enforcing anti-money laundering rules and driving mainstream adoption of digital assets. This registration serves as a significant milestone in our journey to gain regulatory approval from jurisdictions around the globe,\u201d said Eric He, co-founder and chairman of LBank.<\/span><\/p>\n

LBank\u2019s registration comes at a crucial time as European regulators prepare for the upcoming Markets in Crypto Assets (MiCA) regulatory framework. MiCA will define requirements for crypto issuers and service providers, such as exchanges like LBank. Bank of Italy Governor Ignazio Visco shared in <\/span>a speech<\/span><\/a> on the 4th of February that regulators in Italy are preparing a supervisory environment in anticipation of future EU crypto laws. Visco also added that the central bank found that about 2% of Italian households hold \u201cmodest amounts\u201d of crypto.<\/span><\/p>\n

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This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.<\/i><\/small><\/p>\n

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