UK based Blockchain.com  secured regulatory approval from Italy’s Organismo Agenti e Mediatori (OAM) as a Virtual Asset Service Provider (VASP) allowing it to provide virtual currency and wallet services to Italian residents and institutional investors under the OAM’s regulatory framework. At the sametime Blockchain.com announced that it has a license underway in the UAE, through Dubai’s VARA. 

As per Blockchain.com medium article, “Through engaging with OAM we’ve been encouraged by the thoughtful approach to protecting consumers and preventing money laundering. A key growth market, Italy represents a significant economy in Europe with a high crypto adoption rate relative to its peer countries in the EU. Additionally, this milestone strengthens our position to offer services across Europe ahead of the forthcoming Regulation on Markets in Crypto Assets (MiCAR), a landmark law expected to take effect in 2024/2025 that will create a single market for crypto through harmonized rules.”

Blockchain.com has additional registrations and licenses in process in the U.S., Germany, France, Spain, Dubai, Ireland and The Netherlands, providing an ever-expanding range of options for our retail and institutional clients.

Blockchain.com currently has 83 million wallets in more than 200 countries

With 83 million wallets in more than 200 countries, and have transacted more than $1.2 trillion in crypto to date.

Major exchanges Binance and U.S.-based Coinbase Global Inc , as well as Singapore-based Crypto.com and German investment platform Trade Republic, are among those to have already secured registration with the OAM.

Crypto platforms are looking to increase their bases in Europe before ground-breaking crypto rules agreed last month by the European Union come into force. Under the rules, expected to go live after 2024, crypto firms will need a licence and customer safeguards to issue and sell digital tokens in the bloc.