Cryptoasset exchange Binance, has announced that its Italian subdivision has received regulatory approval in the European country as a Cryptocurrency Service Provider. This is a major milestone for the company and for the Blockchain movement as a whole, this approval will allow the company to strengthen its presence in the country by opening offices and expanding its local team.
These regulations in each country are important because they are essential to the adoption of cryptocurrencies. Binance’s expansion is moving forward as they have also recently received licenses in Bahrain and Dubai and are looking at future potential in India, a country with a population of 1.38 billion.
Binance is slowly being accepted in all countries and this is very positive for cryptocurrency enthusiasts, as until recently an individual could not buy cryptocurrencies in their home country. This is enabling mass adoption of cryptocurrencies.
Cryptocurrencies are on the rise and mass adoption is what is needed to move this movement forward from being a concept to the technology that surrounds our lives. As we have seen in previous weeks NFTs have the ability to create personal passwords that are unhackable and allow owners to access certain services and be part of different groups such as BAYC (Bored Ape Yacht Club) and many others. NFTs also have the ability to be sold alongside real life products and thus be a technological proof of ownership as we have seen with the latest Lamborghini produced.
Blockchain technology is the backbone of a myriad of other technologies that can make our lives easier, cheaper and faster.