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.
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FinTech
Here are some interesting articles on Italian and international Fintech and blockchain law related issues from either Giulio Coraggio or the other authors of GamingTechLaw.
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Bitcoin and its potential usage as part of money laundering crimes as well as of crimes associated with terrorism has been the subject of concerns raised by the UIF, the harm of the Bank of Italy dedicated, among others, to receive anti-money laundering reports of suspicious transactions. ย But the reaction from other Governments and e-commerce operators are different.
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Issues affecting Bitcoin and gaming are becoming a very frequent topic of discussion since a number of gaming websites decided to allow Bitcoin transactions. ย Even relevant gambling regulators decided to take actions to protect both operators and players in case of Bitcoin transactions to set a friendly environment where such virtual currency can be used. ย However, the usage of Bitcoin leads to potential gaming law issues as well as non-gaming related issues.
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The news about the indictment of Charlie Shrem, the former vice president of Bitcoin Foundation, and Robert Faiella in the US because of their potential involvement in the laundering of more than $ 1 million bitcoin on the website Silk Road to purchase illegal drugs raised new concerns about the legality of Bitcoin currency.
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The regulatory framework necessary for the launch of theย first Italian crowdfunding platforms is now completed with the resolution of the CONSOB, the equivalent of the US Securities and Exchange Commission, setting out requirements for companies running such platforms.
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Crowdfunding seems to have become one of the best venues for start-ups to raise funds according to the Crowdfunding Industry Report and theย recent regulatory developments in Italy on the matterย may be an interesting opportunity for venture capital funds, incubators and start-ups.ย