Gate.io, one of the leading cryptocurrency exchanges, has announced that its Italian subsidiary, Gate Italy s.r.l., has obtained a Virtual Asset Service Provider (VASP) license from the Italian regulatory agency Organismo Agenti e Mediatori (OAM).Â
The VASP license authorizes Gate Italy s.r.l. to offer various virtual asset services in Italy. The VASP registration details of Gate Italy s.r.l. can be accessed through the OAM’s Virtual Currency Operators Registry under the registration number PSV83.
Gate.io Benefits With The VASP License
With the VASP license, Gate Italy s.r.l. can offer the following services in Italy: services functional to the use and exchange of virtual currencies and/or their conversion from or into legal tender currencies or digital representations of value, including those convertible into other virtual currencies.
Virtual currency transfer and clearing services; any other services functional to the acquisition, trading, or intermediation in the exchange of virtual currencies virtual currencies; and digital wallet services.
Gate Italy s.r.l.’s VASP registration is only valid in Italy for now. However, the company plans to expand its services to other countries and regions in the future.
The VASP license ensures that Gate Italy s.r.l. can offer Italian users safer, more convenient, and more professional virtual asset transaction and management services while adhering to local laws and regulations, as well as anti-money laundering requirements.
Founder and CEO of Gate Group, Dr. Han Lin, has described the VASP registration as an important milestone for the company’s entry into the European market. It is also a significant achievement in their compliance-centric global expansion.
Gate Group will follow stricter regulatory standards that further protect the security of user assets and strengthen compliance capabilities. Dr. Han Lin emphasized that Gate Group will continue to invest in compliance and supervision to provide users with safer and more reliable virtual asset transaction services.
The VASP license will enhance Gate Italy s.r.l.’s compliance and regulatory capabilities. As the world’s leading digital asset trading platform, Gate Group remains committed to providing its users with secure and reliable digital asset transaction services.
The company said it will continue to uphold its core value of customer-oriented service and provide users with better digital asset services.
Gate Group’s VASP license approval in Italy marks a significant step forward in the company’s expansion strategy in Europe. It is an indication of the company’s commitment to adhering to regulatory requirements while providing its customers with the best virtual asset services possible.
