From Monday 16 May the Register for traders in virtual currency managed by the OAM. The Agents and Mediators Body communicates it, specifying that those who already carry out the activity, even online, in Italy, and are in possession of the legal requirements, will be able to continue to do so but will have to submit an application for registration within 60 days following the 16th May. If the term is not respected, any exercise of the activity will be considered abusive.
Who will have to register and what are the requirements
Service providers related to the use of virtual currency and digital wallet service providers will be required to register. The requisites for registration, established by the legislation in force, are: for subjects other than natural persons, legal and administrative headquarters in Italy or, for EU subjects, permanent establishment in the territory of the Republic; for natural persons who are Italian citizens or citizens of a State of the European Union or of a different State, domicile in the territory of the Republic.
How to apply for membership
Al OAM website the "Registration" service will be available. Once completed the registration, the user will have his own private area at his disposal, with restricted access with password, chosen by the user himself, within which he will be able to use the telematic services made available by the Body. Through his own area he will have to fill in, digitally sign and send the specific activity communication form. The following must be indicated: personal data (of the company, in the case of legal persons, including personal data of the legal representative), tax ID, identification document details, a certified email address (PEC), the type of activity and services provided, the methods of carrying out the service (physical points, ATMs, web addresses). It must be attached to the communication copy of the document of identification of the person who carries out it and, in the case of a person other than a natural person, of the legal representative as well as the updated chamber of commerce certificate. Documentation of the one-off payment (500 euros for natural persons and 8.300 for companies) will also be sent.
From the moment of receipt, the OAM will have 15 days to verify the regularity and completeness of the communication and the attached documentation: it can suspend the term only once, and for a maximum of 10 days, if it deems the communication incomplete or deems it necessary to documentation integration. Once the deadlines have elapsed, if the requested documentation is not received or insufficient, deny the registration in the Special section of the Registry, giving timely and justified communication to the interested party who can in any case submit a subsequent application for registration.
In the special section of the Register managed by the OAM accessible to the public, the following will be noted: surname and name of the service provider relating to the use of virtual currency or digital wallet if a natural person or company name and registered office or headquarters of the permanent establishment in the territory of the Republic in the case of a subject other than a natural person; tax code or VAT number, where assigned; indication of the type of service provided; address of the physical points of operation, including any automatic teller machines (ATMs), and/or the web address through which the service is provided.
Quarterly communication on the operations of its customers
Registered operators must transmit to the OAM, electronically, the data relating to the operations carried out on the territory of the Italian Republic. The transmission must be carried out on a quarterly basis. In particular, the relative identification data and summary data on overall operations in Italy must be transmitted for each customer.
