The AML4 (Directive 2015/859 UE) was introduced in Italy with its publication in the Italian Official Journal of the Legislative Decree 25th May 2017, n. 90 (G.U. n. 140 of 19th June 2017) with the total reform of the legislative decree 231/2007.
The European Parliament has not yet approved the modification of AML4 with provisions regarding virtual currency (which will probably occur after discussion in plenary in late October 2017) but Italy anticipates some provisions, including Exchanger as an obliged entity for AML purposes.
The Italian Minister of Economy called for discussion over the draft of this proposed legislation in early December and obtained the opinion of Parliament.
Read the full article:
https://coinidol.com/aml-law-in-italy-with-rules-on-exchangers/Exchanges are the only point where governments can exert pressure, in the entire crypto value chain. Once bitcoin acceptance becomes widespread, there will be no need to exchange bitcoin for fiat, and governments will lose this hold too.
