The Italian Central Bank has defined that of cryptocurrencies “an unstoppable process” adding that “we need to seize the opportunities”. This was reported by ANSA, the main Italian press agency, taking up the words of Piero Cipollone (Deputy Director General of the Bank of Italy), during a public event on ‘The competitiveness of Italian financial markets in support of growth’.
The institutional event dealt with topics such as market financing, the role of investors, the new potential of digital finance and the process of modernizing the system for applying the rules.
The deputy director of the Bank of Italy then underlined that the adoption of cryptocurrencies is a process “that perhaps should be encouraged. It is a development that we as central banks see favorably, because innovation brings benefits if we manage to control its risks “, the agency always reports, and he focused on the importance of how to put on the market the subjects that are currently barred due to their complexity and costs.
On the sidelines of the event, the Italian Treasury Department published a 42-page paper which carries out a survey of the current situation of the Italian financial markets in international comparison, and identifies some possible areas for revision and modernization of the legislative framework. A very important clue on how Italy is moving to regulate cryptocurrencies and related technologies.
