{"id":242,"date":"2014-05-30T13:06:00","date_gmt":"2014-05-30T13:06:00","guid":{"rendered":"http:\/\/blog.holytransaction.com\/the-difficulty-of-getting-bitcoin-to-italy\/"},"modified":"2014-05-30T13:06:00","modified_gmt":"2014-05-30T13:06:00","slug":"the-difficulty-of-getting-bitcoin-to-italy","status":"publish","type":"post","link":"https:\/\/holytransaction.com\/blog\/2014\/05\/the-difficulty-of-getting-bitcoin-to-italy.html","title":{"rendered":"The difficulty of getting Bitcoin to catch on in Italy"},"content":{"rendered":"
\nItaly\u2019s
\nfirst Bitcoin ATM was a Lamassu machine, installed in Udine,
\na northeastern city nestled between the Alps and the Adriatic
\n Sea.<\/i><\/b><\/div>\n
\n<\/div>\n
\n<\/a><\/div>\n
\n
<\/i><\/b><\/div>\n
\n<\/div>\n
\n(CoinTelegraph<\/a>) That\u2019s wine country, and you would need plenty of it to wash
\ndown the stuffed gnocchi.<\/div>\n
\n<\/div>\n
\nThe machine\u2019s owner, Luca Dordolo, is often nearby to assist
\nanyone who needs help using the machine (it\u2019s located<\/a> in the hall of his family\u2019s business).
\nHe\u2019s even had the interface translated into the local Friulian language, as
\nwell as Italian.<\/div>\n
\n<\/div>\n
\nDordolo\u2019s vision is to create an Italian hub for Bitcoin<\/a>, and
\nhis next step at this point is to install more machines around the country.<\/div>\n
\n<\/div>\n
\nObstacles, both legal and cultural, are making this difficult,
\nthough.<\/div>\n
\n<\/div>\n

\nLegal Obstacles<\/b><\/h4>\n
\n<\/div>\n
\nFirst, Dordolo laments the \u201clack of relevant legislation\u201d in Italy
\nregarding Bitcoin, forcing him to operate in a grey area with which many
\nBitcoin entrepreneurs are familiar.<\/div>\n
\n<\/div>\n
\nBefore buying that first Lamassu ATM, Dordolo said he had a
\npool of attorneys and legal experts advise him on what he could and could not
\ndo. Italy,
\nthey told him, does not regulate Bitcoin itself, nor are there any
\nknow-your-customer regulations, but any transactions above 999.99 EUR need to
\nbe reported.<\/div>\n
\n<\/div>\n
\nSo, that was the limit he set.<\/div>\n
\n<\/div>\n
\nHere is what BitLegal<\/a> says about Italian legislation:<\/div>\n
\n

<\/p>\n

\n

\n\u201cThe use of electronic
\ncurrency is restricted to banks and electronic money institutions \u2014 that is,
\nprivate legal entities duly authorized and registered by the Central Bank of Italy.
\nAside from these developments, Italy
\ndoes not regulate Bitcoin use by private individuals, and currently the
\nimplementation of initiatives concerning the use of electronic currencies lies
\nwith the EU.\u201d<\/i><\/p><\/blockquote>\n<\/blockquote>\n<\/div>\n

\nDordolo is not confident Italian law will catch up with the
\ntechnology.<\/div>\n
\n

<\/p>\n

\n

\n\u201cBanca d’Italia is
\nstudying the [Bitcoin] phenomenon, and perhaps \u2014 if they were fast \u2014 in 10-20
\nyears we could have a law on it.\u201d<\/i><\/p><\/blockquote>\n<\/blockquote>\n<\/div>\n

\nCultural Obstacles<\/b><\/div>\n
\n<\/div>\n
\nDealing with murky Italian laws is one thing. Dealing with
\nlocal perception is something else entirely, Dordolo said.<\/div>\n
\n

<\/p>\n

\n

\n\u201cIn Italy, we are at the beginning of
\nBitcoin\u2019s spreading among the population. There is an interesting Bitcoin
\ncommunity [in Italy],
\nbut it is still very hard to explain to Italian people the real value that
\nBitcoin creates in the economy and the job opportunities it creates.<\/i>This is because of
\nmisinformation by the national media that actually regard it as a scam or worst
\nas associated with criminal deeds.<\/i>Even the local Bitcoin
\nFoundation is not as active as it should be, so whatever can move this
\nsituation is welcome.\u201d <\/i><\/p><\/blockquote>\n<\/blockquote>\n<\/div>\n

Open your free digital wallet here<\/a> to store your cryptocurrencies in a safe place.<\/p>\n","protected":false},"excerpt":{"rendered":"

Italy\u2019s first Bitcoin ATM was a Lamassu machine, installed in Udine, a northeastern city nestled between the Alps and the Adriatic Sea. (CoinTelegraph) That\u2019s wine country, and you would need plenty of it to wash down the stuffed gnocchi. The machine\u2019s owner, Luca Dordolo, is often nearby to assist anyone who needs help using the […]<\/p>\n","protected":false},"author":1,"featured_media":801,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7,37,76,274,375,542],"tags":[704,764,948,1041,1201],"yoast_head":"\nThe difficulty of getting Bitcoin to catch on in Italy -<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/holytransaction.com\/blog\/2014\/05\/the-difficulty-of-getting-bitcoin-to-italy.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The difficulty of getting Bitcoin to catch on in Italy\" \/>\n<meta property=\"og:description\" content=\"Italy\u2019s first Bitcoin ATM was a Lamassu machine, installed in Udine, a northeastern city nestled between the Alps and the Adriatic Sea. 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