Reported 8 months ago
Italy is planning to enhance surveillance on crypto risks and impose hefty fines for market manipulation, as per a draft decree reviewed by Reuters. The proposed fines range from 5,000 to 5 million euros for insider trading, unlawful disclosure of inside information, or market manipulation. The decree, aligning with European regulations, designates Italy's central bank and market watchdog as authorities to supervise cryptocurrency activities to ensure financial stability and market functionality. Cryptocurrencies facilitate global money transfers outside traditional financial systems through blockchain technology.
Source: YAHOO