Italy, through the Organismo Agenti e Mediatori, has enabled the virtual asset sector to take the leap. Indeed, crypto lender Nexo has obtained registration as a virtual currency operator. This marks a big step forward for all crypto players, like Binance or Coinbase. In addition, several reforms are on the horizon for 2024, bringing with them many advantages for our dear traders and investors.
What changes with the registration of NEXO in Italy?
Well the Italian Cryptocurrency Exchange Regulatory Body OAM granted the registration of the crypto lender Nexo to legally provide its services to the entire Italian population. Thus, Nexo plans to use this recording to extend its services throughout Europe. Moreover, when the new regulations come into force by 2024. Indeed, the European Union is about to adopt a set of crypto asset laws which will allow companies to passport their license across the 27-nation bloc.
“This registration in Italy is part of our master plan to strengthen our presence in the country and improve the robustness of our compliance across Europe,” said Antoni Trenchev, co-founder and managing partner of Nexo, in a statement. Thus, Nexo intends to take advantage of all these advances and position itself as the leader of virtual currency operators in Europe.
In addition, the Nexo website displays registrations in several US states and six other countries. This testifies to the ambitions and progress of this company.
In addition, since February 18, 2022, it is mandatory for all virtual asset providers (VASPs) to register with the registry of The Organismo Agenti e Mediatori, OAM. Thus, crypto exchanges such as Binance, Coinbase and Crypto.com have all been approved by the Italian OAM this year.
Conclusion
After benefiting from registration with the Italian OAM, the firm Nexo does not fail to show its gratitude to the Italian government. In addition, it now intends to serve all of Europe and pass on its services to as many people as possible. For all virtual asset providers, it is imperative to be registered with the OAM. Moreover, a bright future is looming on the horizon for all European cryptocurrency enthusiasts.
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