IN DEPTH: Seventy three crypto companies have announced they received regulatory approval to operate in Italy this year – but the country's regulator hasn't actually vetted any of them, and may not until next year. iamsandali investigates
from the Ministry of Economics and Finance mandated the creation of a special roster for crypto firms.
Most importantly, to qualify for the registry, the applicant must also provide a “registered office and, if different from the registered office, the administrative office.” If the VASP’s office is in another EU member state, a “permanent establishment” has to be set up in the Italian territory. Put simply, an operational office or physical point in Italy is a requirement to qualify for the registry, the OAM told CoinDesk in a written statement.
“It's not that you literally get a license. It does not mean that you pass some particular scrutiny from the regulators,” Dagnino said.
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