Italy is taking steps to enhance surveillance of crypto assets and address associated risks. According to a draft decree reviewed by a news agency, the plan includes imposing high fines on those who manipulate the market. The fines range from $5,400-$5.4 million (€5,000 to €5 million) for offenses such as insider trading, unlawful disclosure of inside information, or market manipulation. This initiative aligns with a European regulation from last year. Italy’s central bank and market watchdog, Consob, will oversee cryptocurrency activities to maintain financial stability and ensure orderly market functioning.
Italy Proposes Stringent Measures to Tackle Crypto Market Manipulation
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