Italy recognizes Blockchain and Smart Contracts

The Italian Parliament finally approved the Law which recognizes the legal validity of the Blockchain Time Stamp and of the Smart Contracts on February the 7th. Together with this new law, a tax benefit of 40% for investments in technological start-ups was approved last week.

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ITALIAN BUSINESS ANGELS SET TO RECEIVE TAX BREAKS

Business angels saw their status recognized by Italian law. The Consolidated Law on Finance (Testo Unico della Finanza, TUF), as amended by the 2019 Budget Law, defines them as: “investors supporting the innovation who invested, directly or indirectly, a sum of at least 40.000 euros in the last three years.”

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ARRIVANO LE AGEVOLAZIONI PER I BUSINESS ANGEL ITALIANI

Finalmente anche in Italia è stata riconosciuta dalla legge la figura la figura del business angel. Il testo unico della Finanza, come modificato dalla legge di bilancio 2019, li definisce come: «investitori a supporto dell’innovazione che hanno investito in maniera diretta o indiretta una somma pari ad almeno euro 40.000 nell’ultimo triennio».

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