Since February, the financial authorities in Rome maintain a registry for all cryptocurrency platforms permanently operating in the country.Germany-based investment platform Trade Republic and Singapore-headquartered digital currency exchange Crypto.com announced their registrations as crypto operators in Italy on Tuesday, Reuters reported. The news comes after other major crypto platforms like Binance, the world’s largest exchange by trading volume, and leading U.S.
The special registry for crypto service providers working in the Italian market was established by the Ministry of Economy and the brokerage regulator Organismo degli Agenti e dei Mediatori in February of this year. It lists all cryptocurrency operators with a presence in the country. To register they need to meet a set of requirements.
“We are excited to receive this registration in Italy and view it as a major step forward for Crypto.com,” Kris Marszalek, co-founder and CEO of Crypto.com, has been quoted as saying. He emphasized that the exchange, which has 50 million users around the world, is committed to growing in the region and continuing its collaboration with regulatory bodies.
Concerned with consumer protection, financial stability threats, and illicit usage of cryptocurrencies, financial regulators across the globe have been trying to regulate the crypto market. Existing rules are often patchy, the report notes. European institutions recentlyon the draft Markets in Crypto Assets legislation, expected to comprehensively regulate the crypto industry on the EU level.
Crypto.com’s registration in Italy follows its entrance into the Greek market and Trade Republic recently started providing crypto-related services in Spain. The latter is also authorized by Commissione Nazionale per le Società e la Borsa (
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