Notice pursuant to Article 45(5) of the MiCAR Decree (Legislative Decree 129/2024)

On 30 December 2024, Regulation (EU) 2023/1114, known as MiCA (Markets in Crypto-Assets), entered into force, with the aim of creating a uniform legal and regulatory framework for crypto-assets within a single European market.

MiCA also sets clear requirements for issuers and for providers of services relating to the use of virtual currency and digital wallets (“CASPs”), including transparency, disclosure, authorisation and transaction supervision obligations.

As regards Italy, the legislative decree needed to align national law with MiCAR — Legislative Decree No. 129/2024 (the “Decree”) — was published in the Official Gazette on 13 September 2024.

The Decree establishes a transitional regime that allows current providers of services relating to the use of virtual currency and digital wallets (currently referred to as “VASPs”) to continue operating for a period of six months after MiCAR becomes applicable, and therefore until 30 June 2025: this transitional period is crucial to ensure a smooth transition from the current Virtual Asset Service Providers (VASPs) to the future Crypto-Asset Service Providers (CASPs).

YouHodler Italy S.r.l. already complies with Italian legislation and is entered in the OAM register as a VASP, and is actively preparing to meet the MiCA requirements in order to obtain authorisation as a CASP.

In line with the highest standards of security and transparency, YouHodler Italy S.r.l. gives priority to the security and integrity of users’ assets, and is also equipped with internal control mechanisms, policies and procedures to identify, assess and manage risks, including money laundering and terrorist financing risks.

In compliance with the principles of transparency and fairness towards users and clients, YouHodler Italy S.r.l. also informs that, until authorisation is obtained — as clarified by the Bank of Italy in its communication of 22 July 2024 — the activity carried out by YouHodler Italy S.r.l. will continue to be subject to the rules laid down for providers of services relating to the use of virtual currencies and for digital wallet service providers (VASPs) and not (yet) to those laid down by MiCAR; accordingly, the anti-money laundering rules currently applicable to VASPs will also continue to apply to them.