by Fulvio Sarzana di S.Ippolito, Lawyer, Sarzana e Associati law firm.
There Cassation intervenes again in the field of cryptocurrencies considering that Bitcoin is a financial product if purchased for investment purposes.
According to the Supreme forum, in a sentence of 30 November 2021 the virtual currency, when it assumes the function, that is the concrete cause, of an investment instrument and, therefore, of a financial product, must be governed by the rules on financial intermediation ( art. 94 ss. TUF), which guarantee the protection of the investment through a unitary discipline of special law. In particular, the Judges of Piazza Cavour ruled that:
