The Firm
LX20 Law Firm: a boutique business firm with offices in Milan, Turin and New York, specialised in fintech, digital assets, M&A and complex regulatory work.
LX20 was conceived as a boutique business firm working at the boundary between law, technology and regulated markets. The structure is intentionally focused: limited intake, vertical specialisation, direct partner involvement on every mandate.
Why "next generation"
The phrase is not a marketing line. It captures the daily business of the firm: working on legal areas that did not exist five years ago — DLT financial instruments, MiCA crypto-asset regulation, ECSP crowdfunding, AI Act compliance, corporate DAOs — and on traditional matters (M&A, banking, capital markets) reshaped by technology.
Our hypothesis is that boutique firms with deep technical expertise in specific verticals can deliver, on those matters, a higher quality than large generalist players — in less time, with no friction in the chain of command and at a more efficient cost. The track record bears this out.
How we work
Every mandate is led by a partner who handles the matter from intake to closing. Where appropriate, we work alongside accountants, notaries, technical advisors and Italian or foreign co-counsel — but coordination remains in our hands. We accept a limited number of mandates each year. When a matter falls outside our specialisation, we say so and we point the client to the most suitable firm.
Four non-negotiables
The principles that shape how we approach every matter — from a complex regulatory transaction to ordinary corporate housekeeping.
Our signature deals
A selection of mandates that reflect the firm's approach. The complete list is available on the Signature Deals page.
Alessandro Negri della Torre
Alessandro Negri della Torre founded LX20 Law Firm in 2020 with the goal of building an Italian boutique focused on the intersection of digital assets, banking and financial regulation, M&A and commercial law. He holds a Ph.D. in Law from the University of Aberdeen, where he focused on the legal profiles of financial instruments tokenisation.
Admitted to the Milan Bar Special Roll for Lawyers and to the New York Bar, he practices in Italian and English on technical, primarily regulated matters. His professional activity has included, among others, the first private authorisation under the Italian Fintech Decree granted by CONSOB, the structuring of the first Italian fund for digital financial instruments, the first issuance of Italian-law bonds natively represented on DLT, the first transformation of an S.r.l. into an S.p.A. with native blockchain shares, and the first Italian corporate DAO.
Prior to founding LX20, he practiced in international firms and boutiques specialised in banking law and financial markets, with focus on M&A, capital markets, asset management and digital assets. His work supports banks, asset managers, regulated intermediaries, private equity sponsors, venture capital funds and start-ups in areas where the convergence of traditional finance, digital infrastructure and new entrepreneurial paradigms requires an interdisciplinary approach.
He has authored academic and industry publications on DLT, MiCAR, the Italian Fintech Decree and corporate governance, with particular attention to the regulatory boundaries between traditional financial instruments and crypto-assets.
People
Alessandro Negri della Torre
Founder & Managing Partner — Digital Assets - Banking & Finance - New Technologies
He founded and leads the Firm. A member of the Milan Bar and of the New York State Bar, he works at the convergence of digital-asset regulation, capital markets and financial services, advising innovative companies and supervised intermediaries on fintech and tokenisation, banking & finance, M&A and corporate law, on a domestic and cross-border basis (Italy and the United States).
Gian Marco Iulietto
Senior Associate — Corporate · Commercial · M&A · Fintech & Digital Assets · Regulatory
Senior Associate at the Firm, he advises startups, scale-ups and financial institutions on corporate, commercial and regulatory matters, with a particular focus on fintech, insurtech and digital assets. He handles extraordinary and M&A transactions on a domestic and cross-border basis, also in coordination with the U.S. desk, and works on commercial contracts, investment agreements and data-protection matters. He oversees the Firm’s communications.
Carlo Giuliano
Partner — Corporate · Commercial · M&A · Fintech & Digital Assets · Regulatory
Partner of the Firm and a lawyer admitted to the Cuneo Bar, he focuses on corporate law, venture capital and fintech regulation. Carlo regularly advises startups and founders, investors, startup studios and venture builders, providing assistance in the early stages of incorporation, in day-to-day operations (compliance, ESOP, contracts) and in investment rounds. He has developed extensive experience in the Fintech sector, in particular assisting players in the crypto-asset market (exchanges and issuers), payment institutions and tokenization companies. Carlo has also developed expertise in…
Giulio De Bruno
Of Counsel — Corporate & M&A · Venture Capital · Fintech & Digital Assets · Crowdfunding (ECSP) · 231 Compliance
Of Counsel to the Firm and a member of the Naples Bar, he focuses on corporate law, M&A and venture capital, and on fintech regulation. He advises crowdfunding platforms (ECSP) and operators in authorisation proceedings before the supervisory authorities, tokenisation projects under the DL Fintech, and startups and innovative SMEs in structuring investment rounds (SAFEs, participating financial instruments, incentive plans), as well as on organisation and control models under Legislative Decree 231/2001, on whose supervisory bodies he also sits.
Cristina Carati
Of Counsel — Employment law · Industrial relations and union negotiation · Dismissals and restructurings · Employment aspects of M&A and business transfers · Employment litigation
Of Counsel to the Firm and a member of the Milan Bar, she specialises in employment and industrial-relations law. She advises Italian and multinational companies on all aspects of the employment relationship — contracts, individual and collective dismissals, exit agreements, outsourcing, reorganisations and restructurings, the employment aspects of extraordinary transactions and business transfers — as well as on union negotiations and employment litigation before the courts. She brings to the Firm over twenty years of experience in the field.
Nabil Ryah
Of Counsel — Civil and commercial litigation · judicial and out-of-court assistance
A member of the Bergamo Bar, he supports the Firm in civil and commercial litigation. His procedural grounding, developed in civil litigation, underpins the advice and defence in disputes between businesses and between individuals, both in and out of court.
Piera Tucci
Junior Associate — Corporate · Commercial · Fintech & Digital Assets · Regulatory
Junior Associate at the Firm, she works with the corporate and regulatory team on M&A transactions, commercial contracts, and fintech and digital-assets projects.
Paolo Negri della Torre
Advisor
Over forty years in the judiciary, concluded as a Justice of the Italian Court of Cassation (1980–2021).
Patrizia Maria Prizio
Advisor
Over thirty-five years of experience at the Bank of Italy (1985–2021), in banking and financial supervision and regulation.
Jihane Benarafa
Academic Advisor — Comparative private law · Islamic finance · Insurance and financial markets · Law and new technologies (blockchain, DeFi)
She collaborates with the Firm as an academic advisor. A Ph.D. in comparative law and qualified as an associate professor, she is a research fellow at the University of Milan. Her research interests include comparative private law, Islamic finance, insurance and financial markets law, and the legal aspects of new technologies, including blockchain and decentralised finance. She brings to the Firm a scientific and research contribution, distinct from legal advice.
Offices
Milan
Via San Raffaele 1, 20121 Milan (Italy)
Turin
Via Confienza 10, 10121 Turin, Italy
New York
405 Lexington Ave, 9th Fl PMB # 9070, New York, NY 10174
Signature deals
CASP authorisation covering eight of the ten MiCAR services for an Italian crypto-asset exchange
Exchange platform · Crypto-assets — 2026
By resolution no. 24059 of 30 June 2026, CONSOB, in agreement with the Bank of Italy, authorised an Italian platform under Regulation (EU) 2023/1114 to provide eight of the ten MiCAR services: custody and administration, execution of…
CASP authorisation for an operator previously registered with the OAM
Crypto-asset services · Veneto — 2026
By resolution no. 24030 of 10 June 2026, CONSOB authorised an operator previously registered with the OAM to provide the services of exchanging crypto-assets for funds, exchanging crypto-assets for other crypto-assets and placing. The…
Integrated CASP and EMI authorisation for a payments and crypto-asset operator
Electronic money · Crypto-assets — 2026
One of Italy’s first cases of integrated CASP + EMI authorisation concerned an operator already registered with the OAM. By resolution no. 24060 of 30 June 2026, after consulting the Bank of Italy, CONSOB authorised custody and…
Private authorization under DL Fintech
Italian private operator · Fintech sector — 2024
LX20 advised in the authorization procedure relating to the first private operator authorized by CONSOB under D.L. 17 March 2023, no. 25 ("DL Fintech") for the provision of services connected to digital financial instruments represented on…
Italian fund investment in DLT-native digital financial instruments
Asset management firm · Italian SGR — 2023
LX20 advised on structuring the first Italian investment, by an Italian alternative investment fund, in participating financial instruments natively issued on DLT. The transaction required the coordination of regulatory, corporate and…
Italian blockchain-based investment structure
DLT-based investment vehicle · Fintech sector — 2023
LX20 advised in the creation of an investment structure based on a participating holding company, digital financial instruments and a reserved alternative investment fund operating in a DLT environment. The engagement covered the design of…
Among the first Italian DLT-native bond issuances
Regulated Italian bank · Banking sector — 2022
LX20 advised on the issuance of one of the first Italian-law bonds natively represented on blockchain and fully subscribed by a regulated intermediary. The transaction was completed prior to the adoption of DL Fintech and required a…
S.r.l. to S.p.A. transformation with DLT-native shares
Italian company · Tech sector — 2023
LX20 advised on the transformation of an Italian limited liability company (S.r.l.) into a joint-stock company (S.p.A.) with shares natively issued on DLT. The transaction required a review of corporate governance, adaptation of corporate…