Italy: Towards a Register For Cryptocurrencies Operators

Anticipating the EU bodies on the AML duties regarding cryptocurrencies operators, on May 2017, the Italian legislator with Legislative Decree no. 90/2017 introduced – among others – provisions specifically addressing virtual money service providers.

In the context of the above-mentioned legislative decree, virtual money service providers are defined as <…> any natural or legal person providing to third subjects, on a professional basis, services related to the use, the exchange, the storing of virtual currencies and the exchange of such virtual currencies to (or from) legal tenders, while virtual money is defined as <…> the digital representation of value, not issued by a central bank or a public a ...

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