Italy to be the first to introduce professional "Cryptocurrency to FIAT exchange"

in legislation •  8 years ago  (edited)

As of the 4th of July, the "Decreto Legislativo 25 Maggio 2017, n 90" will come into force.

Among other things changed or added in said Law for money laundry , there are few paragraph that describe the figure of the "Virtual Currency Exchange" (a professional figure that will hold and exchange to FIAT virtual currency).

We have to hope that this will not mean a more close regulation about cryptocurrencies and that it will just be a more protected and lawful way to exchange cryptos to fiat and viceversa.

Thanks for reading,

Ther0

More on the subject (ITALIAN) :
https://www.meteofinanza.com/criptovalute-nuove-leggi-italiane-materia-antiriciclaggio/
Source :
http://www.gazzettaufficiale.it/eli/id/2017/06/19/17G00104/sg

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It's only logical that regulators will seek to include trade in virtual currencies from and to fiat currency.