Italy formally laid out new AML requirements for crypto companies
The registration on the list is required to provide any services related to digital assets in the country
19.02.2022 - 10:15
667
1 min
0
What’s new? Italy has published new anti-money laundering (AML) regulations for crypto companies. This is reported by the local publication Gazzetta Ufficiale. The rules, which were approved in January, define registration and reporting requirements for virtual asset service providers (VASPs) that comply with the European Union’s anti-money laundering directive.
Information on the Gazzetta Ufficiale website
What does the document say? The document specifies that registration on the list for crypto companies is required to provide any services related to digital assets in the country.
In addition to the registration requirement, the document states that VASPs have to report all information required under the AML regulations to the Organismo Agenti e Mediatori (the body responsible for overseeing the VASP registry) at the end of each quarter. The VASP register will be created within 90 days after the publication of this document.
What are the conditions to qualify for registration? In order to qualify for inclusion in the special register of approved VASPs in Italy, all entities must comply with Article 17-bis of a 2008 directive relating to credit contracts.
“Accordingly, VASPs that are incorporated in other EU member states will have to set up an Italian branch or subsidiary in order to operate with Italian customers. VASPs established in third countries will have to incorporate an Italian subsidiary.”
Useful material?
Telegram 
Twitter Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024
Market
The company predicts that the rate of the first cryptocurrency will grow to $200 000 by the end of next year
Nov 11, 2024
Technologies
The company also unveiled its own blockchain adoption index
Nov 11, 2024
Cryptocurrency rates
-
Bitcoin
$91 170
BTC
+1.81%
-
Ethereum
$3 172.25
ETH
+4.61%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.15
XRP
+31.73%
-
Dogecoin
$0.372641
DOGE
+4.15%
-
Cardano
$0.762731
ADA
+14.13%
-
Bitcoin Cash
$470.21
BCH
+11.38%
-
Polkadot
$5.72
DOT
+14.21%
-
Litecoin
$95.94
LTC
+16.61%
-
Stellar XLM
$0.191989
XLM
+42.62%