BitMEX Receives Regulatory Approval to Operate as Crypto Service Provider in Italy

Cryptocurrency exchange BitMEX announced that it has received registration and regulatory approval from the Organismo Agenti e Mediatori (OAM) in Italy as a provider of virtual currency and digital wallet services. 

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This registration permits BitMEX to offer a suite of spot trading products and services to Italian customers in compliance with local regulations. The OAM registry has the function of monitoring the conduct of business in terms of anti-money laundering and fiscal controls. It follows a new Decree of the Ministry of Economy and Finance (MEF) that imposes on cryptocurrency and digital wallet service providers who provide services to Italian users the compulsory enrollment in a special section of the register held by the OAM, a now-mandatory requirement to operate in Italy.

Alexander Höptner, CEO of BitMEX, commented: "This is a major step in our regulatory journey as we seek to become regulated in key jurisdictions around the world, validating that we are operating in line with Italian anti-money laundering regulatory requirements. These steps we are taking are also recognition of the importance of having a clear regulatory framework in place that gives users and crypto companies alike trust and transparency in our crypto operations." 

BitMEX said that it will continue with its efforts to become regulated in key jurisdictions around the world.