Italy is planning to implement measures to strengthen surveillance of risks associated with crypto assets, including imposing hefty fines for market manipulation and insider trading.
These measures, set to be approved by the cabinet today, will include fines ranging from 5,000 euros to 5 million euros.
As part of the European Union’s regulatory framework, Italy is designating its central bank and market watchdog as responsible for supervising the sector.
While the country’s exposure to the crypto market is limited, it has been preparing to follow the EU regulations for some time, despite low levels of crypto ownership among households and intermediaries.
