News about cryptocurrencies in Italy
1. The Legislative Decree 25th May 2017 n. 90 (which strengthened Italian anti-money laundering Law) states that service providers related to the use of virtual currency must comply with anti-money laundering requirements, in order to prevent the use of crypocurrencies for illegal purposes.
- On 2nd February 2018, the Ministry of the Economy and Finance (MEF) issued a draft decree that states provides for any subject interested in carrying out the service provider activity of virtual currency in Italy, the obligation of notification to the Ministry of Economy and Finance and the related instructions..
The purpose is to achieve a first detection about the phenomenon, starting from the number of operators involved, that will in the future, have to register in a special register kept by the OAM, (the register of Agents and Brokers), to exercise their activity n Italy.
3. In March 2018, the Public Prosecutor's Office, further to a CONSOB report, for the first time in Italy, seized a web site which proposed the exchange of cryptocurrencies, stating that offer of cryptocurrencies represents an illicit sale of financial products.
