News
MiCA has had a limited impact on the adoption of compliant stablecoins in Europe, strengthening the need for the digital euro, Bank of Italy Governor Fabio Panetta said.
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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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The Bank of Italy criticized the growing role of dollar-pegged stablecoins, warning they could become systemic, and raised concerns over non-financial corporations investing in Bitcoin.
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The municipality said the Satoshi artwork, set to be released on May 1, had been designed by a local artist and financed by the Fornelli government.
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Tether has invested $10.8 million in Italian media company Be Water, acquiring a 30.4% stake to expand digital content and support independent journalism, the firm said.
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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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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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