Best Bitcoin Card for Italy

Italian-based companies offering crypto services or using crypto currency are currently unable to register in the company register, reports the crypto financial blog The Currency Analysis on 1 December.

According to the report, the law was passed after it was discovered that an Italian public limited company named S.r.l (‘società a responsabilità limitata’) uses crypto currencies without registration. The company has also refused to be registered in the Italian Commercial Register. This led to a conflict with the country’s legal position regarding crypto currency, as “all assets must have a measurable economic value”.

In the BGB, Article 2465 refers to the lendability of assets:

“Those who transfer assets in the form of tangible assets or loans should attach a report containing the valuation criteria applied and a certificate that their value is at least equal to the value assigned to them for the determination of the capital share. “

The company’s application for registration was therefore rejected because it was unable to meet the requirements. However, the Company has granted the court access to its credentials and passwords to provide the Registrar with sufficient material for approval.

It appears that the Italian Court of Justice has slowly begun to recognise the impact of crypto currencies on the economy. Since the trade in crypto currencies is not uniform, mainly due to its volatile nature, the court found that the nation needed a better framework to control and monitor how this new form of currency is handled within the country.

This move follows a growing trend around the world and especially in Europe, where more and more countries are slowly but surely formulating legal guidelines for trading crypto currencies and attempting to enforce regulatory measures for blockchain operations.

About Italy

Italy is a country in southern Europe on the Mediterranean. The capital is Rome, the “eternal city”. Already in ancient times Italy was an important European cultural centre and centre and starting point of the Roman Empire. Today’s Italy is known for its cuisine, fashion and designer articles, clothing industry, architecture, cars, football, research, art, films, music and tourist destinations.

The Italian economy is the sixth largest in the world and its GDP is comparable to that of France and Great Britain. Italy is a founding member of the European Economic Community (forerunner of the EU) and replaced its “lira” currency with the euro in 2001.

Italy is characterised by its division into two parts. The highly industrialised north, with its large economic centres and metropolises of Milan, Turin, Bologna and Genoa, has a well-developed service sector and is therefore economically comparable with its northern neighbours. The south of the country, also known as the Mezzogiorno, is one of the structurally weakest regions of the EU-15 and is still heavily agricultural.

Climate

In the north continental, in central Italy and in the south maritime climate. The highest rainfall occurs in spring and autumn, four to five summer months are dry. The January temperatures in Rome are 7° C, the July temperatures 25° C.

Origin of the name

The country name developed from the term Italiker under which the peoples of the Apeninen peninsula were summarized in Roman time.