Cryptocurrency exchange Bitstamp received permission to operate in Italy

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Luxembourg-based cryptocurrency exchange Bitstamp is expanding its presence in the eurozone and, following the Crypto.com and BitGo exchanges, is entering the Italian market.

This week the regulator Organisimo Agenti eMediatori issued the company a license to operate in the country. This comes about a week after Crypto.com and BitGo received similar licenses.

“Registration in Italy has become part of the implementationour global plans to provide services in Europe and around the world. Italy is one of the most important markets, and we are committed to providing its citizens with a safe, secure way to trade cryptocurrencies,” said Bitstamp CEO Jean-Baptiste Graftieaux.

Bitstamp trading platform is considered one of thethe oldest cryptocurrency platforms on the market. It was opened in 2011 in Slovenia. Currently, the main office of the crypto exchange is located in Luxembourg, and its activities are regulated by the Luxembourg Commission for Supervision of Financial Services (CSSF).

Now Bitstamp has the ability to legallyprovide services in almost all European countries and about 40 other countries. According to Coinmarketcap, the annual trading volume of the site has fallen by almost 40% since the beginning of 2022 and amounts to about $170 million.

At the beginning of July, against the backdrop of a general decline in the cryptocurrency market, the Bitstamp exchange announced
about automatic introduction from Augustsubscription fee of €10 for accounts with assets worth less than $200, for which no transactions have been made for 12 months or more. However, after a sharply negative reaction
users, the exchange management was forced to reconsider its plans.