Cryptocurrencies, the rules for those who want to create a stablecoin in Italy: requests by 30 June
Mef, Bankitalia and Security Services summit: in June the platforms authorized by Consob, at the end of the transition period envisaged by the EU regulations
Eyes on the supervisory authority on the dark world and without rules of cryptocurrencies. On March 12, in a meeting chaired by the Undersecretary to the Prime Minister Alfredo Mantovano, the ministers of the economy Giancarlo Giorgetti, of the interior Matteo planted, the governor of the Bank of Italy Fabio Panetta and the leaders of the State Police, the Carabinieri, Cybersiculia and intelligence met.
It was a preparatory meeting at the deadline of 30 June, the date by which the services of services for cryptocurrencies and digital tokens who want to operate in Italy must make formal request to Consob to be authorized to carry out this type of activity.
Penalties and fines for those who do not respect the rules on crypts
Stablecoin operators will have to prove to act in accordance with the EU provisions on the data that must accompany the transfers of funds. It is essentially a matter of respecting the risk management criteria and anti -money laundering legislation. Those who do not adapt to the rules will be liable to penis up to 4 years in prison And fines up to 5 million euros.
The Faro of the ECB
The activism of the control authorities is necessary after the turning point impressed on the cryptocurrency market by the settlement of the new US administration, which aims to creation of a federal cryptocurrency reserve in the United Statesin particular Bitcoin. In practice, it is a question of liberalizing a market that at the moment does not offer any guarantee nor in terms of stability of the platforms involved, nor the prices practiced on the services, let alone on the often illegal origin of the crypto-depths.
The ECB for its part aims to contrast the phenomenon of the far west of the crypts through the creation of a digital euro Able to counteract the other Stablecoin – such as Tether, of the Italian Giancarlo Devasini – which offer a digital token not intrinsically devoid of value but « guaranteed » by deposits in securities or dollars, or in other active, such as gold. A jungle inhabited by strange beings who respond to the name of arbitrum, optimism, dominance, Polygon, aptos, BSC.
Roller coaster
That there is a need to introduce some form of protection, however, the uncontrollable trend of Bitcoin, passed in a few months by a listing of About 75 thousand dollars up to over 100 after the settlement of Donald Trump in the White House, and subsequently rearranged below 80 thousand dollars. As far as investment in the case of Bitcoin and other crypts, both completely improper, since they are worth nothing and have no below (except the Stablecoin, which however do not offer a guaranteed certification) appears urgent to introduce some form of regulation of the platforms.
Bankitalia: pay attention to payments
Recently the Bank of Italy reiterated that Crypt -activities – especially if not covered by underlying activities – are unsuitable to be used as with payment purposes. And it invites you to use particular caution also for the crypto-activities covered by some form of guarantee if offered to customers with payment purposes « due to the potential oscillations of value of these tools and the consequent absence of the trustee element based primarily on reimbursement to the nominal value.
