Italy to Launch a Stricter Crypto Regulation

Italy is planning to implement measures to strengthen surveillance over potential risks associated with digital assets, such as cryptocurrencies.

This includes imposing high fines for those engaged in market manipulation, according to a draft decree reviewed by Reuters on Thursday.

The proposed decree, which is expected to be approved by the cabinet later in the day, outlines fines ranging from 5,000 to 5 million euros ($5,400-$5.4 million) for activities such as insider trading, illegal disclosure of confidential information, and market manipulation.

Central banks and international organizations have cautioned against the use of cryptocurrencies, citing their lack of intrinsic value and potential threats to macroeconomic and financial stability. Investigations have also revealed evidence of fraudulent activity involving these assets.