BitGo Cleared to Operate in Italy - Crypto Adoption - video Dailymotion

BitGo Cleared to Operate in Italy - Crypto Adoption

Transcript

00:00The quick news adoption story, crypto custodian BitGo has been given the go-ahead to now operate

00:07in Italy. We've been seeing a wave of companies get this regulatory approval from Italy especially

00:14lately and BitGo seems to be the latest on the list. So the digital assets custodian BitGo is

00:23actually registered in Italy and alongside other crypto companies. I was just recently in Italy

00:28at a conference and it seems like yeah those guys are starting to really embrace the whole digital

00:35currency movement as well according to documents from Italian financial regulator and BitGo itself

00:42is now registered to provide digital wallet services in the country on July 15th and the entrance into

00:50the European nation follows a pattern of companies like I said taking operations to Italy on Tuesday

00:56crypto.com said it had obtained regulatory approval also Binance, Kraken, Big Panda and the

01:03brokerage trade republic have also registered recently. I think Italy is really trying to

01:09position itself as one of the European crypto hubs. This is a pretty you know sort of I think

01:16smart move on their part if you think about countries like Italy that have really come under

01:22some challenging times financially. I remember in the 2008 crash 7 financial crisis Italy was

01:31really having a hard time when even Britain was still in the EU and there was a very tight push for

01:40austerity measures there and it was really not looking good for Italy for a long time and I think you know

01:48it's just smart on their part for them to start to really embrace the future of finance in this instance

01:53being home to a lot of these cryptocurrency companies. So the crypto regulatory landscape in Europe in

02:00general it's uncertain the weighted markets sort of markets in crypto assets law or MICA would have

02:07sort of provided a regulatory framework for cryptocurrencies in the European Union and you know this might only go into

02:17the effect in 2024. Biggo did of course decline to comment on its status in Italy but you know in a statement issued

02:25a spokesman of the company licensed also said that they have some pending licenses in other jurisdictions as well

02:36that they're looking forward to receiving. So let me know what your thoughts are if you're in Italy

02:40what does the crypto sort of ecosystem look like at the moment over there and does it look like

02:47Italy is going to become one of the crypto strongholds in Europe let me know and like share subscribe turn

02:54on the notification bell see you in the next piece