Italy has published a law to combat the criminal use of crypto

The Italian authorities published last week a law to combat money laundering through digital currencies.

The document was approved by the government in January. It lists the requirements for crypto companies providing digital asset exchange services, local media reported.

Each crypto company must comply with the fifth directive of the European Union against the criminal use of tokens, as well as the requirements of the Financial Action Task Force (FATF).

Companies must be licensed, after which they will automatically enter the register of blockchain enterprises.

Registration is required if the company wants to legally provide services to Italian bitcoin investors.

Over the past few years, the number of businesses providing token exchange services has grown significantly in Italy.

The largest part of such firms is registered in the northern part of the country, which is traditionally considered the most developed from an economic point of view.