Visco spoke of the importance of regulating crypto, and outlined global, European and Italian initiatives underway during a speech on the global economic situation in Milan. Although the economies of Italy and the euro area are decelerating, because the sector's ties to traditional finance are weak, last year's crypto market collapse did not have any"systemic consequences" on"the real economy," he said.
He added that Bank of Italy surveys showed only about 2% of Italian households held"modest amounts, on average" of crypto and that the exposure of Italian intermediaries to the market was also very limited. Nonetheless, the country's regulators are preparing for the forthcoming EU crypto rules under the Markets in Crypto Assets framework, which are due to be voted on for a final time in April. MiCA sets up licensing requirements for crypto issuers and service providers including exchange platforms.
Italy had previously set up a mandatory registration requirement for crypto firms operating in the country, but, by the end of last year, the
iamsandali Of course, all these laws will be in their favor.
iamsandali Hahahahahaha, 'crypto laws', hahahahahaha. 🤣🤣