LBank, the world's crypto exchange, has been registered as a virtual asset service provider with the Italian regulator Organismo degli Agenti e dei Mediatori (OAM). The permission of the regulatory authority allows the exchange to provide a series of service items and products to Italian customers.

On February 1, 2023, LBank realized the registration of virtual asset service provider in OAM according to the requirements of Italian encryption property law. This global crypto exchange with more than 9 million users will now be able to provide assistance and products for Italian investors. The permission of the regulatory authorities also allows LBank to set up service offices in Italy and increase its elite team.

To register with OAM, LBank has joined the ranks of encryption exchanges that have recently been approved by control in Italy. On May 18, 2022, the regulatory authority officially registered the cryptocurrency foreign exchange dealer for free. Only nine days later, Binance, the largest cryptocurrency exchange in the world, won a quota. Since then, participants in other key fields such as Coinbase, Crypto.com, Bitstamp and BitMEX have signed contracts.

Eric He, co-founder and boss of LBank, said:

"We applaud the efforts made by the Ministry of Economy and National Finance and OAM in defining and implementing Italian national standards and achieving fully transparent operation, which is also an indispensable part of the implementation of the compliance management system and the promotion of digital currency mainstreaming. This registration is a key milestone for our approval of the jurisdiction control." In the international scope. "

The registration of LBank coincides with a critical period for European regulators to fully prepare for the upcoming regulatory framework of the Cryptographic Asset Market (MiCA). MiCA will define the needs of encryption publishers and LBank and other service providers. Italian President Ignazio Visco pointed out in a speech on February 4 that Italian regulators have prepared the regulatory environment in advance for the future EU encryption law. Visco added that the central bank found that about 2% of Italian households had "appropriate" cryptocurrency.