DeFI, NFT, GameFi are legal?
The question is only one: “Using a blockchain all this would be possible”? The lawyer answers , professor of ‘Blockchain and Cybersecurity Law’ at the Free Mediterranean University of Bari and member of the group of experts on blockchain formed by the Ministry of Economic Development (Mise): “In the Credit Suisse case there was a reserved division and therefore all transactions took place in a covered, non-public manner. And this is a characteristic of the traditional banking system in which banking secrecy allows full ownership of what happens. So we must trust that the banks implement a system that allows the overcoming of banking secrecy ”.
“The blockchain – continues Sarzana – would tend to avoid situations of this type, first of all because a transfer of real money means that all intermediaries must register the transaction with customer due diligence. This means that, contrary to popular belief, the transactions that take place are recorded so that operators can identify all customers, according to the anti-money laundering regulations. So the banking systems that managed blockchain transactions would still have to record what happens “.
The decree of January 13, 2022, relating to the procedures and deadlines within which digital wallet managers are obliged to cooperate with the Ministry of Economy and Finance and the police was published in the Official Gazette on February 17, 2022 Italy is also moving: “There is an administrative discipline that precisely identifies the obligations for intermediaries”, concludes the lawyer Sarzana. One step closer towards taking on a new mentality, but it is only one step on a long ladder.