Organismo Agenti e Mediatori

Organismo Agenti e Mediatori (OAM) regulates Virtual Asset Service Providers (VASPs) through:

• Mandatory Registration:
  Any natural or legal person providing virtual asset services professionally in Italy must register with OAM in the dedicated section of the Money Changers Register.

• Broad Scope of Covered Services:
  a. Providers of services related to the use of virtual currency, i.e. any natural person or entity who, in a professional capacity and including online, provides third parties with services functional to the use, exchange or storage of virtual currencies, or their conversion from or into legal tender or digital representations of value. This includes services relating to the issuing, offering, transferring, compensating or any other service functional to the acquisition, trading or intermediation in the exchange of these currencies.
  b. digital wallet service providers, i.e. any natural person or entity who, in a professional capacity and including online, provides third parties with private cryptographic key safeguard services to hold, store and transfer virtual currencies on behalf of their clients.

• Quarterly Transaction Reporting Obligation:
  Registered VASPs are required to submit detailed transaction data to OAM on a quarterly basis.

Generally speaking, OAM-registered VASP will be found at OAM VASP Registry. Try to find it and check if it will match the info from the broker website.

The detailed steps are as below:

1. Find the entity name of the VASP, which you can get from its website; 

2. Search the entity name on: https://www.organismo-am.it/elenchi-registri/operatori_valute_virtuali/index.html

Check that the registered website corresponds to the VASP you are verifying. 

When you have disputes with a OAM-registered broker, you can proceed the following ways:

1st way: The recommended way is to contact the broker directly and discuss with them to find a win-win resolution.

2nd way: If you're not satisfied with the broker's resolution, try to contact OAM, which helps to solve the disputes between financial services providers and consumers.

a. You can submit an online complaint to OAM: https://www.organismo-am.it/vigilanza/segnalazioni-ed-esposti 

b. Mail/Post

Address:
OAM – Organismo Agenti e Mediatori
Via Galilei, 3
00185 Rome

c. Email: emergenti@pec.organismo-am.it

3rd way: If the first 2 ways above can't solve the dispute, the last way is to issue a case to the court in Italy.