ETHERLive delivers real-time price and volume data across 16+ exchanges to users in a clear and easy-to-understand package. Users can get up-to-the-second updates for each exchange/currency pair, as well as aggregated market averages for each exchange, currency, and the market as a whole. It also provides a global converted average of all the currency pairs monitored by ETHNews, converted to USD.


24hr ---

The Basics

Learn the basics of Ethereum and various cryptocurrency technologies

Learn More

What is Ethereum?

Understand the underlying principles of the Ethereum Platform

Learn More

The Blockchain

Discover the revolutionizing technology known as the blockchain

Learn More

Press Release

Submit a press release for consideration on ETHNews

Submit Press

Story / Dapp

Submit a story or DAPP to be considered for publication on ETHNews.

Submit Story


Submit "Ethereum Explainer" content for consideration to be featured on ETHNews

Submit Topic
ETHNews Logo
Ether Price Analysis
Contact Us

Italian Ministry Of Economy And Finance Establishing Rules For Virtual Currency Companies



De Silva

In light of anti-money laundering efforts, the Italian Ministry of Economy and Finance is turning its attention toward virtual currency businesses. A draft decree lays out comprehensive registration and reporting requirements.

On February 2, 2018, the Italian Ministry of Economy and Finance (MEF) published a draft of a ministerial decree on the regulation of virtual currency-related service providers. Comments were gathered during a two-week public consultation period, which ended February 16, 2018.

The new set of rules, which details registration and reporting requirements for Italian virtual currency firms, will reportedly be implemented within three months of the decree's adoption. The draft decree also mentions the cooperative relationship between the MEF and police forces to address non-compliant virtual currency firms.

As defined in the decree, virtual currency is "the digital representation of value, not issued by a central bank." The broad directive would apply to virtual currency service providers (e.g., exchanges and lenders), and also includes "commercial operators that accept virtual currency as [payment] for … goods and services or other utilities."

The MEF explains that the purpose of the decree is to determine the scope of virtual currency firms operating in Italy and ensure their registration through the Organismo Agenti e Mediatori (OAM).

Those virtual currency service providers already operating in Italy will have 60 days to register and provide necessary documentation to the MEF. It appears that new virtual currency service providers will be required to notify the MEF of their intentions immediately.

Information required by the MEF includes:


It should be noted that the "PEC" address refers to certified electronic mail.

It's unclear exactly when the decree goes into effect. However, the MEF's work on virtual currency is a significant step toward regulation. An Italian cryptocurrency exchange, BitGrail, recently lost 17 million Nano tokens, the current market value of which is approximately $130 million. Shortly thereafter, the European Supervisory Authorities issued a warning about the dangers of virtual currency ownership.

Quotes translated from Italian using Google Translate.

Matthew De Silva

Matthew has a passion for law and technology. He graduated from Georgetown University, where he studied international economics and music. Matthew enjoys biking and listening to tech podcasts. He lives in Los Angeles.

ETHNews is committed to its Editorial Policy

Like what you read? Follow us on Twitter @ETHNews_ to receive the latest Italy, Ministry Of Economy And Finance or other Ethereum world news.