Italian crypto companies are registered in accordance with the new rules

A summary of the proposed rules explains how service providers that accept crypto-currencies should report their activities and revenues to the Ministry of Economy and Finance, as well as what the government will do with this information.

The Italian government is looking for feedback on the proposed encryption rules aimed at explaining the use of technology within the country.

The main purpose of this decree is to ensure compliance with the recently adopted rules of the European Union against money-laundering, of which Italy is one of the founders. In addition, this was due to new provisions on the financing of terrorism and other criminal activities.

To this end, agencies involved in transactions with crypto-currencies will be registered in the new database by the Agency for Agents and Mediators.

Interested parties in Italy should weigh up on this issue by February 16, while the new rules will be implemented until July 2018. Existing service providers will only have 60 days after the implementation of the decree to register with the agency

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