Just In: Global cryptocurrency exchange LBank has registered with the Italian regulator Organismo degli Agenti e dei Mediatori as a Virtual Asset Provider (OAM).
As Italian crypto asset law required, LBank registered with the OAM as a Virtual Asset Provider on February 1, 2023. The world’s largest cryptocurrency trading platform can now provide its services to Italian investors. LBank may now establish a presence in Italy and grow its personnel thanks to the approval of the relevant authorities.
What Does This Mean for LBank?
With its registration as a Virtual Asset Service Provider (VASP), LBank joins a growing list of crypto exchanges that have just received regulatory permission in Italy by registering with the OAM.
After the regulatory agency opened the official registry of cryptocurrency traders on May 18, 2022, the world’s largest crypto exchange Binance secured a seat just 9 days later. Since then, prominent platforms like Coinbase, Crypto.com, Bitstamp, and BitMEX have joined this initiative.
Considering this, the registration of LBank comes at a critical juncture in European regulators’ preparations for the impending Markets in Crypto Assets (MiCA) regulatory framework. However, in a speech on February 4th, Bank of Italy Governor Ignazio Visco stated that regulators in Italy are developing a supervisory environment in anticipation of future EU crypto laws.
Visco also stated that the central bank discovered that approximately 2% of Italian households had “small amounts” of cryptocurrency.
More About LBank:
LBank is a cryptocurrency exchange founded in 2015 that offers a wide range of products and services to consumers worldwide, such as cryptocurrency trading, derivatives, currency quantification, currency interest creation, and other services.
LBank is currently licensed by the NFA, MSB, Canada MSB, and Australian AUSTRAC, with other licenses in the works. The majority of LBank’s tokens are traded against Bitcoin and Ethereum. Furthermore, the exchange launched an NFT Marketplace, allowing users to trade NFTs from the world’s greatest digital artists easily.
Overall, LBank’s constant attention to the needs of its more than 7 million user community has enabled it to stay in pace with quickly changing markets and introduce new features.
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