Italian Company Oraclize Becomes First to Incorporate as Legal Entity with Bitcoin
For the first time, bitcoin has been used to incorporate a legal entity in Italy. The legal status of Bitcoin varies by country, but the Bank of Italy defines it as an unregulated digital decentralized virtual currency based on peer-to-peer, encryption on a shared blockchain. According to Italian Civil Code, the formation of a private limited company....
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Oraclize - "That's one small step for a man, one giant leap for Bitcoin". With each passing day, Bitcoin continues to gain a stronger foothold on the world's economy. The most recent one came in the form of Oraclize Srl. Oraclize is the first company in the world to be registered as a legal entity using bitcoin. Oraclize was incorporated on March 24, 2015 in Italy by Thomas Bertani by depositing the required minimum capital amount in the form of bitcoins. A Capital Paid in Assets - Still Counts. In order to form a private limited company under the Italian Civil Code, the company must have....
The new group will reportedly have an estimated 70% share of the Italian market.
An Italian politician has asserted that the digital currency bitcoin is providing Italian mobsters with a legal way of entering the gambling sector. According to Lucrezia Ricchiuti, who is a member of the Italian Democratic Party, she believes that it is possible to link bitcoin to casino operations that are run by the mafia. She is of the opinion that due to a rise in the use of the currency this provides an ideal avenue for the gambling industry in the country to be utilized for tax evasion. In a report from Press Giochi, an Italian news site, she is reported as saying that it is....
Italian police accused a man who ran a cryptocurrency exchange of being responsible for a series of hacks that caused millions in losses as part of an alleged massive fraud scheme. Italian Authorities Accuse Bitgrail Owner of Faking Hacks That Led Exchange’s Bankruptcy According to Reuters, the 34-year-old from Florence known by his initials F.F. and owner of Bitgrail, a crypto company that was declared bankrupt in 2019, is suspected of having faked a cyberattack that defrauded over 230,000 people which held nano coin, a crypto launched in 2015. The series of alleged fake hacks....
By transitioning to a fully DAO-governed model, Nexus could expand its userbase and iron out tokeneconomic friction. In a move that could point towards greater decentralization and wider access, the Nexus Mutual community is currently considering a proposal to sunset the coverage protocol’s legal entity and lift Know Your Customer (KYC) burdens currently necessary to interact with the platform.The proposal was announced yesterday in a Tweet by investment fund 1kx co-founder Christopher Heymann. In it, Heymann notes that Nexus originally launched with a “a UK-based limited company” in order....