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virtual currency

What changes for virtual currency with new anti-money laundering laws?

June 29, 2017 - 6:44 am in FinTech

Virtual currency for the 1st time falls under Italian anti-money laundering law with the decree implementing the European 4th AML Directive. The long awaited Italian legislative decree implementing the European 4th anti-money laundering (AML) directive (the…

Internet of Things

How the Internet of Things changes Financial Services

June 22, 2017 - 10:49 am in FinTech, Internet of Things

The Internet of Things is going to change the models of business of the financial services sector, unveiling new legal issues. I have already discussed…


FinTech – between Open APIs and Strong Authentication at the time of the PSD2

March 22, 2017 - 7:58 am in FinTech

The FinTech revolution is led by the PDS2 with banks as a platform facing legal risks due to open APIs and new strong authentication obligations. The…


Blockchain is the future of insurance but what are the legal risks?

March 8, 2017 - 8:53 pm in bitcoin, FinTech

There is no doubt that there are huge potentials for the insurance sector to exploit blockchain, but as any new technology, it will also lead to new legal risks. The Bank of England defines blockchain as “a technology that allows people who don’t know…

P2P lending

P2P lending boosted by new FinTech rules?

January 5, 2017 - 8:05 am in FinTech

P2P lending is a promising area of FinTech that might lead to new opportunities, also thanks to the new rules issued by the Bank of Italy.  What is P2P lending? P2P lending is defined as "the practice of lending money to individuals or businesses through…

virtual currency

Bitcoin exchange transactions are VAT exempt in Italy

October 17, 2016 - 10:58 pm in FinTech

Bitcoin is VAT exempt according to the position taken by the Italian tax authority that might also have some side effects.  This a guest post by my tax colleagues, Giovanni Iaselli and Alberto Sandalo. I have already been discussing about the legal issues…

virtual currency

Bitcoin anonymity will be over in Europe?

August 3, 2016 - 11:38 pm in bitcoin, FinTech

Bitcoin might be no longer anonymous due to a centralised database of users to be created as part of a proposal of the European Commission. The setting up of virtual currencies database As part of the proposal of amendment of the 4th European anti-money laundering…


Bitcoin is not money, but property

July 28, 2016 - 7:32 am in bitcoin, FinTech

Bitcoin is not money but property and therefore the crimes of unlawful transfer of money and money laundering did not arise according to the court of Miami. I have already discussed in several instances about the legal issues of bitcoin also in the gaming…


Fintech outsourcing is a hurdle race?

June 16, 2016 - 6:36 am in FinTech, outsourcing

The growth of fintech shall deal with stringent banking outsourcing regulations which might put burdensome obligations on providers in Italy.  Given the potential impact of outsourcing services in the banking sector, the Bank of Italy issued very specific…


Who is liable for the blockchain?

May 26, 2016 - 12:08 am in FinTech

Blockchain is "the most important invention since the Internet itself" according to Marc Andreessen, but if illegal activities are perpetrated through the blockchain, who is liable? According to the Bank of England, the blockchain is "a technology that allows…