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Italy boosts crypto risk oversight and toughens sanctions, draft shows

Economic TimesEconomic Times · 6m
Italy boosts crypto risk oversight and toughens sanctions, draft shows

Italy is set to introduce new measures to enhance surveillance on cryptocurrency risks, imposing substantial fines for market manipulation in a draft decree under review. The proposed fines range from €5,000 to €5 million for offences such as insider trading, unlawful disclosure of inside information, and market manipulation. This move aligns with the objective of preserving financial stability and ensuring orderly markets, in line with European regulations. The global concern over the lack of underlying value in cryptocurrencies and their potential for fraud continues, with central banks and international bodies warning against the risks they pose to financial and macroeconomic stability.

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