Italy is stepping up its regulatory oversight of the cryptocurrency market with a new draft decree set for approval. This move aims to curb market manipulation and enhance investor protection, aligning with the European Union's broader regulatory framework. The decree proposes hefty fines, ranging from €5,000 to €5 million, for activities such as insider trading and unlawful disclosure of sensitive information. The responsibility for overseeing crypto activities will be shared between the Bank of Italy and Consob, the country's market regulator. This initiative builds on existing regulations, requiring all crypto service providers to register with the Organismo Agenti e Mediatori (OAM) to ensure transparency and compliance with Anti-Money Laundering (AML) standards.
Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.
