Italy

Italy reportedly plans to introduce stricter crypto surveillance measures due to the risks associated with digital assets.  News agency Reuters reviewed an Italian draft decree detailing plans to adopt stricter crypto oversight measures over the risks tied to these assets. Measures include extremely high fines ranging between 5,000 and 5 million euros ($5,400 - $5.4 million) for offences such as market manipulation.  Massive Fines for Insider Traders According to Reuters, Italy is planning to introduce stringent crypto surveillance mechanisms and…

Leading crypto exchange Coinbase has secured a crypto asset service provider license in Italy. The company announced this news through a blog post on July 18. This license will allow the exchange to offer Italians crypto services in a regulated environment. According to the blog post, Coinbase moved to secure the license after Organismo Agenti e Mediatori (OAM) said it would implement new requirements for crypto service providers. Among the new requirements for crypto service providers is securing regulatory approval.…

The leading cryptocurrency exchange Binance released a report explaining the way scams targeting cryptocurrency investors attempt to achieve credibility. The report, released on June 30, noted that the observations are based on an examination of reports of fraudulent investment schemes which promises quick or exponential returns on cryptocurrency investments. Binance Sentry which is an internal risk intelligence unit structured within Binance’s security team examined the reports, thereby coming up with its observations. However, the frauds go beyond cryptocurrency but likewise include forex,…

We are ready to work on the establishment of a European central bank digital currency, says the Italian Banking Association (ABI). The ABI announced its willingness to support the implementation of a digital currency from the European Central Bank. The association’s website noted the approval of guidelines governing its position on digital currency and central bank digital currencies (CBDCs) on June 18. The ABI, which represents a group of banks in Italy, said it was ready to take part in projects and…

According to a local news report, two Italian high schools will start offering diplomas on Ethereum’s blockchain public technology. The digital diplomas will be easily shareable and unchangeable. The two institutions to offer digital diplomas are the International high schools of Villa Flaminia, in Rome, and the Institute of Higher Education “M. Ciliberto- A. Lucifero”, in Crotone. The first institution will depend on the EY company’s blockchain-based system, while the latter partnered with Blockchain Italia. How the Proposal is Beneficial…