DENIAL BY THE ITALIAN JUDGE TO THE PROVISION OF CRYPTOCURRENCIES

The Court of Brescia has recently rejected a recourse presented by the director of a italian S.r.l. against the refusal of a Notary to provide for the annotation in the trade register of a resolution aimed to increase the share capital by the assignment of cryptocurrencies.

The reasons for the refusal: are the absence of the minimum requirements at the basis of their transferability (economic not-evaluable , existence of an asset market and possibility to be subject to forms of forced execution).

It’s opportune to highlight that against a "rigid" position of Italian jurisdiction in relation to cryptocurrencies and their use it remarkable the opening of some "criptofriendly" countries, such as Switzerland, which facilitate the raising of capital by ICO (Initial Coin Offering) on ​​an Ethereum basis.

Our staff is available for any clarifications.