MEF: The public consultation on the draft decree to censure the phenomenon of virtual currencies starts.

Understanding in its various aspects the phenomenon of virtual currencies in Italy is the aim of the ministerial decree scheme that from 2 to 16 February 2018 is in public consultation on the website of the Treasury Department of the Ministry of Economy and Finance (with possibility of submitting comments and contributions).

The Government has already provided for in the legislative decree 25 May 2017 n. 90 (which strengthened Italian anti-money laundering legislation) that service providers related to the use of virtual currency must comply with anti-money laundering obligations to prevent transactions carried out with currency crypts from being used for illegal purposes.

 The text provides for anyone interested in carrying out the activity of service provider on the Italian territory related to the use of virtual currency, the reporting obligation to the Ministry of Economy and Finance; Commercial operators accepting virtual currencies as consideration for any services relating to goods, services or other utilities are also included in the notification obligation.

Further obligation to which they will have to comply, will be that of registration in a special register kept by the OAM, the Organ of the Agents and the Mediators, in order to exercise their activity on the national territory.