The Firm
A boutique by design.
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.
Our principles
Four non-negotiables
The principles that shape how we approach every matter — from a complex regulatory transaction to ordinary corporate housekeeping.
Vertical specialisation
We don't take everything: we take the matters where we know we can deliver excellence. Where regulation and technology cross paths, we have the deepest bench on the Italian market.
Direct partner access
No layered teams, no "associate translates the partner". The partner who quotes you is the partner you work with. Every day.
Strategic, not defensive
Our default is enabling the operation, not blocking it. Risks are surfaced, weighed and addressed — not hidden behind asymmetric contractual fortresses.
Pricing transparency
Caps, fixed fees, success components: we choose with the client the structure that fits the matter. No surprises in the final invoice.
FOUNDER & MANAGING PARTNER
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.
Avv. — Milan Bar · New York Bar · Ph.D. in Law (Aberdeen)
Offices
Where we are
A European footprint and a gateway to the U.S. market.
Path
Our signature deals
A selection of mandates that reflect the firm's approach. The complete list is available on the Signature Deals page.
CASP authorisation covering eight of the ten MiCAR services for an Italian crypto-asset exchange
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 orders, exchange for funds and for other crypto-assets, transfer, advice, portfolio management and placing. The measure was adopted at the close of the transitional period. LX20’s managing partner supported the company throughout the authorisation procedure in his capacity as chief legal officer, alongside another law firm and the internal legal team.
CASP authorisation for an operator previously registered with the OAM
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 transition to the MiCAR regime enables operations under the new European framework and the potential extension of services into other Member States. LX20 handled all legal and regulatory aspects of the procedure through a team led by the managing partner and including a senior associate and a trainee.
Integrated CASP and EMI authorisation for a payments and crypto-asset operator
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 administration of crypto-assets on behalf of clients, exchange for funds, exchange for other crypto-assets and transfer on behalf of clients under Article 16(1) of Legislative Decree 129/2024 and Article 63 of Regulation (EU) 2023/1114. In parallel, Bank of Italy measure no. 0713266/26 of 23 June 2026, adopted by Governor’s resolution no. 193/2026, authorised the issuance of electronic money and the provision of the payment service under Article 1(2), letter h-septies.1, point 3.3 of the Italian Banking Act, through the establishment of a dedicated pool of assets under Article 114-quinquies of that Act. The infrastructure supports the movement of value between fiat currency, crypto-assets and stablecoins. LX20 advised the company in the CASP authorisation procedure under MiCAR and coordinated the transaction as a whole, with a team comprising the managing partner, a senior associate and a trainee. The EMI aspects were handled by another law firm.
Private authorization under DL Fintech
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 DLT. The engagement covered structuring the regulatory and operational architecture of the project, dialogue with the competent authorities, preparation of the authorization documentation, and coordination of corporate, technological and compliance aspects relevant to registration in the registry provided for under Italian regulation on digital financial instruments.
DAO-based venture studio
LX20 advised on the creation of an Italian venture studio based on a corporate DAO, within an innovative structure for governance and the development of entrepreneurial projects. The engagement required defining the relationships between decentralized governance, corporate bodies, and the operational activities of the structure.
Among the first Italian transfers of DLT-native shares
LX20 developed the legal infrastructure supporting one of the first Italian transactions involving the transfer of DLT-native shares. The engagement included structuring the digital issuance, circulation and transfer mechanisms for the shares, as well as coordinating the corporate and regulatory profiles of the transaction.