Synopsis
Italy plans to adopt measures to beef up surveillance over risks tied to cryptoassets, including high fines for those who manipulate the market, a draft decree reviewed by showed on Thursday.
Italy plans to adopt measures to beef up surveillance over risks tied to cryptoassets, including high fines for those who manipulate the market, a draft decree reviewed by showed on Thursday.
The decree, due to be approved by cabinet later on Thursday, lays out fines of between 5,000 and 5 million euros ($5,400-$5.4 million) for insider trading, unlawful disclosure of inside information or market manipulation.
Central banks and international bodies have warned that cryptocurrencies have no underlying value and pose risks for macroeconomic and financial stability, with investigations around the world also showing they can pave the way to fraud.
Crypto Tracker
TOP COIN SETSWeb3 Tracker6.56% BuyDeFi Tracker5.19% BuyAI Tracker4.31% BuyNFT & Metaverse Tracker2.70% BuyCrypto Blue Chip – 51.04% BuyTOP COINS (₹) Bitcoin5,140,095 (1.22%)BuySolana11,959 (1.04%)BuyBNB48,090 (1.03%)BuyEthereum283,999 (0.68%)BuyTether83 (-0.07%)Buy The scheme, which moves within the framework laid out by a European regulation last year, designates Italy’s central bank and market watchdog Consob as the authorities overseeing cryptocurrency activities to preserve financial stability and grant an “orderly functioning of markets.”
Did you Know?
The world of cryptocurrencies is very dynamic. Prices can go up or down in a matter of seconds. Thus, having reliable answers to such questions is crucial for investors.
View Details » Cryptocurrencies enable people to send money around the world without using the mainstream financial system.
The underlying blockchain technology creates a record of transactions where senders and receivers are identified only by their wallet addresses, which are a string of letters and numbers.
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