TLDR: By meeting the regulatory requirements, Coinbase will continue to offer crypto services in Italy, and has a clear path to bring new products and features to market in the country.
By Nana Murugesan
, July 18, 2022
, 2 min read time
As discussed in our recent blog post, Coinbase is committed to bringing the power of our full product suite to customers across Europe. Today, we’re able to announce a key milestone in that journey: securing approval from Italian regulators to provide ongoing crypto services to its residents. The new requirement implemented by the Organismo Agenti e Mediatori (OAM), mandated that all companies offering crypto trading, custody or other services, meet set criteria. We’re proud to be among the first companies to meet these benchmarks.
Coinbase serves customers across almost 40 European countries through dedicated hubs in Ireland, the UK, and Germany. We are in the process of strengthening our presence across Europe and have registrations or license applications in progress in several major markets in compliance with local regulations. In each of these markets, our goal is to grow our customer base by launching the Coinbase suite of retail, institutional, and ecosystem products.
"Building a constructive relationship with regulators in every jurisdiction in which we operate is incredibly important as we march toward our mission of increasing economic freedom in every corner of the world. Gaining this regulatory approval is a testament to our close collaboration and positive working relationship with the Italian financial regulators. As we continue to grow across Europe and other regions, maintaining our strong regulatory relationships will ensure that we will continue to bring to market the products that our customers want, through the most trusted and secure platform in the cryptoeconomy."
VP, International and Business Development
About Nana Murugesan
Nana Murugesan is the Vice President of International and Business Development at Coinbase where he leads the company’s international operations and global partnerships. Previously, he was the Managing Director of International Markets at Snap Inc. where he led Snapchat’s international expansion and strategic partnerships.
Earlier in his career, Nana was the Vice President and General Manager at Samsung, where he served in a number of strategy, partnerships, and operations roles to launch and grow their Galaxy smartphone and services business, notably Samsung Pay. He also held product roles at Cisco and strategy consulting roles at BCG.
Nana received his BE in Engineering from the University of Madras, MS in Engineering from the University of Wisconsin-Madison and MBA from The Wharton School at the University of Pennsylvania.
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