Most importantly, to qualify for the registry, the applicant must also provide a “registered office and, if different from the registered office, the administrative office.” If the VASP’s office is in another EU member state, a “permanent establishment” has to be set up in the Italian territory. Put simply, an operational office or physical point in Italy is a requirement to qualify for the registry, the OAM told CoinDesk in a written statement.
Source: https://www.coindesk.com/policy/2022/10/05/italy-has-a-registry-of-73-unvetted-crypto-firms/?utm_medium=referral&utm_source=rss&utm_campaign=headlines