Italian Court Denies Registering Businesses Using Cryptocurrency
Businesses in Italy using cryptocurrency may no longer enjoy the mainstream benefits of decentralized economy. According to the reports, companies based on the crypto mechanism or employing cryptocurrency will not be eligible to register their business with Business Register.
The news first broke out when an Italian Joint Stock company, named S.r.l (‘società a responsabilità limitata’) found using a specific cryptocurrency which was not registered in any of the main exchanges. Moreover, the company refused to register itself with the Business Register of Italy – although, several other companies already using cryptocurrency were never discriminated to do so. As a result, if the specific cryptocurrency is already listed across trading platforms, law enforcement wouldn’t censure – but the cryptocurrency used by S.r.l is listed under one platform which conflicts the assessment of the country’s economy. As per the legal bureaucracies addressing cryptocurrency “All asset items must have…
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