Date: 30 May 2025
Communication pursuant to Article 45, paragraph 5, of the MiCA Decree (Legislative Decree No. 129/2024)
On 30 December 2024, EU Regulation 2023/1114, known as MiCA (Markets in Crypto-Assets), came into force with the aim of creating a uniform regulatory framework for crypto-assets within the European single market.MiCA also establishes clear requirements for issuers and providers of services related to the use of virtual currency and digital wallets ("CASP"), including transparency, disclosure, authorisation and transaction supervision obligations. As regards Italy, on 13 September 2024, the legislative decree necessary to amend national legislation into line with MiCA - Legislative Decree No. 129/2024 ("Decree") - was published in the Official Gazette. The Decree establishes a transitional regime that allows current providers of services related to the use of virtual currency and digital wallets (currently referred to as "VASP"s’) to continue operating for a period of six months after the application of MiCAR and, therefore, until 30 June 2025: this transitional period is crucial to ensure a smooth transition from current Virtual Asset Service Providers (VASPs) to future Crypto-Asset Service Providers (CASPs). YouHodler Italy s.r.l is already compliant with Italian regulations and registered in the OAM Portal as a VASP, and is actively preparing to comply with MiCA requirements in order to obtain authorization as a CASP.
In accordance with the highest standards of security and transparency, YouHodler Italy s.r.l. prioritizes the security and integrity of users' assets and is equipped with internal control mechanisms, policies and procedures to identify, assess and manage risks, including money laundering and terrorist financing. In accordance with the principles of transparency and fairness towards users and customers, YouHodler Italy s.r.l. also informs that, until authorization is obtained, as specified by the Bank of Italy in its communication of 22 July 2024, the activities carried out by YouHodler Italy s.r.l. will continue to be subject to the regulations applicable to VASPs and not (yet) to those provided for by MiCAR, therefore also the anti-money laundering regulations currently applicable to VASPs will continue to apply to them.
