Fan token specialist SociosCom has received regulatory approval from Italy as a service provider of digital currencies and wallets.
For the newly growing crypto sector, most of the countries do not have clear regulations. Companies and countries working on this issue are making new agreements to expand their activities.
Socios Seizes Italy Ticket
Socios.com has received regulatory approval as a service provider of digital currencies and wallets for the fan engagement and rewards platform in Italy.
Socios.com says the Italian registration, which provides regulatory approval for the technology supporting its blockchain-based proposal, will support further expansion of the platform in the region. The company has agreements with AC Milan, Inter Milan, Napoli, AS Roma and Juventus. As well as Serie A. The registration will provide some level of consumer trust and critical protection advantage in blockchain-based fan engagement.
In Italy, crypto assets are overseen by Organismo Agenti e Mediatori (OAM), which also regulates financial intermediaries and loan brokers.
Socios.com CEO Alexandre Dreyfus said:
“OAM approval is a crucial part of our efforts to protect consumers and continue to expand our business in the region. Italy is a country where we already have a strong presence and is a very important market for us. We are committed to sustained growth in the region and will continue to work with regulators to ensure legitimacy and trust for our Italian customers.”
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