News
Italy’s Banca d’Italia and Consob are in talks with crypto firms to ensure compliance, as regulatory gaps widen between the EU and US.
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Italy News
Italy, officially the Italian Republic, is a unitary parliamentary republic located along the Mediterranean Sea. The Italian economy is the eighth-largest in the world and is built upon a large number of small and medium-sized enterprises, with most of them focused on niche markets and luxury products. Italy has both a large agricultural sector and a large, technologically-advanced manufacturing industry. Italy didn’t have any special Bitcoin regulations and there was no legal framework for cryptocurrency in Italy until 2018. Currently, Italian professionals in the blockchain industry, such as exchanges and investors, are required to be registered by the Institution of Agents and Mediators by providing documentation data and the websites of businesses. Italy does not have cryptocurrency taxes, but a list of cryptocurrency agents will be available to the Financial Police to conduct investigations of money laundering and terrorism funding.
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Enel and wallet provider Conio’s tokenization initiative lets Italians offset energy bills via partial ownership of solar farms on Algorand.
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Intesa Sanpaolo has become Italy’s first bank to make a Bitcoin investment after buying more than $1 million worth of BTC during a period of growing institutional interest.
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Italy’s privacy watchdog ordered OpenAI to conduct a six-month public awareness campaign to promote how ChatGPT collects and uses data.
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The OECD’s policy paper highlights AI’s potential to reshape G7 tourism, enhancing sustainability and visitor experiences while addressing risks.
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The former crypto executive was previously arrested in Poland in 2021 over related matters but was released after 40 days.
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A Bloomberg report suggested Italian Prime Minister Giorgia Meloni could accept a proposal for a 28% tax hike on crypto rather than a 42% one.
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Giancarlo Giorgetti said cryptocurrencies like Bitcoin presented a “very high level of risk,” highlighting the need for additional taxes.
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Italy plans to raise the tax on Bitcoin capital gains to 42% and remove the 750 million euro minimum revenue requirement for the Digital Services Tax.
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The G7 nations want to ensure AI isn’t used to facilitate "collusion” between AI firms that could lead to forming a monopoly.
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Research indicates a secure, biometrically verified digital twin will need to be developed in order for the metaverse to work.
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Ferrari debuted cryptocurrency payments for its cars in the United States in 2023, partnering with major local payments provider BitPay.
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The trial was part of an initiative set up by the European Central Bank to identify how blockchains can facilitate central bank money settlement.
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Italy’s central bank will soon share how the country should apply the EU’s MiCA crypto laws, with its governor slamming Bitcoin and Ethereum as “unbacked” cryptocurrencies.
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A letter from Consensys states that the SEC’s approval of spot Ether exchange-traded funds indicated that it had “updated its position to classify ETH as a commodity and not a security,” but not everyone agrees.
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