The Firm advises on the incorporation of an investment vehicle in cryptocurrencies
The Firm’s team, led by partner Lorenzo Piccardi, composed of senior associate Fabrizio Cancelliere and associate Armando Tardini, provided advice to Fabio Pezzotti and Domenico Laudonia – two entrepreneurs with a background of over 20 years on the web – on the various tax aspects relating to the incorporation of Iconium S.p.A., the first Italian company specialising in investments in high potential projects in the Blockchain and ICO (Initial Coin Offerings) sectors.
The ICO is a mechanism that can be used in crowdfunding campaigns, that allows the financing – directly and without intermediaries – of business and technology projects on a global scale, taking advantage of blockchain technology, a sort of shared virtual accounting book in which each user registers credits and debits and through which users can send money, or other assets, immediately and without any intermediary. The ICO allows a company that wants to finance a project to issue and sell tokens – or digital assets – at a pre-established value. Tokens can be purchased in pre-sale or during the ICO period and subsequently exchanged with users and customers on exchange platforms.