Legal Information & Regulatory Registration

Company Details

VASP Registration in Italy

Hercle s.r.l. is registered as a Virtual Asset Service Provider (VASP) on the OAM (Organismo Agenti e Mediatori) register, held by the Italian Ministry of Economy and Finance, under registration number PSV32.

What is the OAM register?

The OAM (Organismo Agenti e Mediatori) is a supervisory body established by the Italian Ministry of Economy and Finance. Among its responsibilities, it maintains a Special Section of the Currency Exchange Register dedicated specifically to providers of virtual currency and digital wallet services — i.e. VASPs.

Registration on this list is mandatory under Italian anti-money laundering law (D.Lgs. 231/2007, as amended by D.Lgs. 90/2017 and subsequent provisions implementing EU AML directives). It is not optional — any company offering virtual asset services in Italy without being registered on this list is operating illegally.

What does registration mean?

Being registered as a VASP with the OAM means that Hercle:

• Has formally notified the Italian Ministry of Economy and Finance of its activities

• Is subject to Italian AML/CTF (Anti-Money Laundering and Counter-Terrorist Financing) obligations, including customer due diligence, transaction monitoring, and suspicious activity reporting

• Is required to maintain adequate internal controls and compliance procedures

• Is subject to supervisory oversight by the relevant Italian authorities

What it does not mean

VASP registration is not equivalent to a full financial services licence. It does not mean that Hercle's cryptoasset services are regulated in the same way as, for example, a bank or an investment firm. This is why certain protections available to clients of fully licensed financial entities — such as access to the ACF or deposit guarantee schemes — do not apply to cryptoasset services provided by Hercle.

Important Notices for Clients

⚠️ Please read the following notices carefully before using Hercle's services.

1. No access to the ACF (Arbitro per le Controversie Finanziarie)

The ACF (Arbitro per le Controversie Finanziarie) is an independent dispute resolution body established by the Bank of Italy (Banca d'Italia). It allows retail investors and clients to resolve disputes with financial intermediaries — such as banks, investment firms, and asset managers — quickly and at no cost, outside of court proceedings.

However, the ACF's jurisdiction is limited to regulated financial services covered by MiFID II and equivalent Italian financial legislation. Cryptoasset services are not currently within the ACF's scope. This means that if you have a dispute with Hercle relating specifically to cryptoasset services, you cannot refer it to the ACF for resolution.

What this means for you in practice:

• If your complaint relates to cryptoasset services (e.g. a crypto trade, a digital asset transfer, wallet-related issues), the ACF is not available as a recourse mechanism.

• All complaints — including those related to cryptoassets — must be submitted through Hercle's internal complaints procedure, and you may subsequently pursue resolution through the courts if the outcome is unsatisfactory.

• If your complaint relates to a fiat payment or other non-cryptoasset service, different rules may apply. Contact compliance@hercle.financial for guidance specific to your situation.

To submit a formal complaint to Hercle, email complaints@hercle.financial or open a request through the support centre. You will receive an acknowledgement within 1 business day and a substantive response within 5 business days.

2. No deposit guarantee scheme protection

Your Hercle account is not protected by the Financial Services Compensation Scheme (FSCS) or any equivalent deposit guarantee fund under Italian or European law for cryptoasset services.

3. Regulated and unregulated activities

Hercle carries out both regulated and unregulated activities. The scope of applicable regulation varies depending on the product or service you use and your jurisdiction. For an accurate description of the regulatory status applicable to your situation, please contact your account manager or the compliance team.

Am I protected if Hercle ceases operations?

Digital assets and funds are not covered by any state-guaranteed compensation scheme. For more information on asset custody and fund segregation, see the article Are my funds segregated? or contact compliance@hercle.financial directly.

How can I verify Hercle's registration?

You can verify Hercle's VASP registration directly on the official OAM website:
🔗 organismo-am.it — Registro Operatori Valute Virtuali

Search by registration number: PSV32

Still have questions?

For queries about regulation, compliance, or your account status, contact our team:

• 📧 compliance@hercle.financial — Compliance and regulatory enquiries

• 📧 support@hercle.financial — General support

The information on this page is provided for general guidance only and does not constitute legal or financial advice. Hercle's regulatory status may be subject to change. For up-to-date information, always consult your account manager or the compliance team.