Share this article
Crypto Exchanges Nexo and Gemini Expand to Italy, Register With Regulator
Entry into Italy's registry for virtual currency operators is mandatory to operate in the country.
Updated Nov 30, 2022, 8:35 p.m. Published Nov 30, 2022, 2:00 p.m.
Crypto service providers Nexo and Gemini have been approved for registration with an Italian regulator, allowing the platforms to serve customers in the country.
Gemini was added to the OAM registry on Nov. 4 while Nexo was registered on Oct. 28.
STORY CONTINUES BELOW
It is mandatory for crypto firms to be approved for registration via a local legal entity with the Organismo Agenti e Mediatori (OAM), which maintains lists of financial agents operating in the country. Registration with OAM means the two platforms will be subject to the country's anti-money-laundering requirements.
Crypto exchanges including Binance, Coinbase and Coinify have been approved for registration since the list was set up in May, although a recent investigation by CoinDesk found the companies in the registry – which now has 80 approved firms – may not be subject to any anti-money-laundering checks until next year.
Gemini now operates in 65 countries and was also recently registered as a custodial wallet provider and provider of exchange services between virtual and fiat currencies with Greece’s Hellenic Capital Markets Commission, the firm said on Wednesday.
Nexo already boasts more than 50 licenses worldwide, the company said in a statement to the press. With the OAM registration, Nexo plans on offering Italian customers "transfers, issuance and exchange of virtual currencies, and digital wallet services."
The registration also offers Nexo "greater flexibility and robustness in its compliance across the European market," the statement said.
The European Union this year finalized the legal text for its bloc-wide crypto regulatory framework, which will set up a passportable licensing system for companies looking to serve its 27 member states. The framework, called Markets in Crypto Assets (MiCA), is set to come into effect in 2024.
Read more:EU Delays Vote on MiCA Crypto Legislation Until February
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Polish Government Urges President to Sign Crypto Bill He Already Rejected: Report
The Polish government reintroduced crypto legislation without changing a single period, after telling the president he needs to sign it to avoid Russian-linked security threats.
What to know:
- Poland's government has reintroduced a cryptocurrency bill that was vetoed by President Karol Nawrocki, with Prime Minister Donald Tusk urging its passage to address national security concerns linked to Russia and former Soviet states.
- The Cryptoasset Market Act aims to align Poland's regulations with the EU's Markets in Crypto-Assets regime, providing a unified framework for crypto oversight.
- President Nawrocki vetoed the bill, citing concerns over stringent regulations that he believes threaten the freedom and stability of Polish citizens.
Top Stories
