Italy’s Central Bank Prepares Crypto Regulations Under EU’s MiCA Framework

Italy's central bank is gearing up to enforce the MiCA regulation, aiming to uphold the stability of the payment system.

This pivotal step will include forthcoming guidelines clarifying the application of new rules, marking a transformative phase for Italy’s crypto landscape.

Governor Fabio Panetta, addressing the Italian Banking Association (ABI), highlighted the significance of maintaining a secure payment system.

According to Reuters, MiCA categorizes electronic money tokens (EMTs) and asset-reference tokens (ARTs) as valid payment forms. EMTs are linked to a single official currency, while ARTs depend on underlying assets.

Panetta emphasized that EMTs, issued by banks or electronic money institutions, are crucial for maintaining public trust in payment methods.

This move underscores Italy’s commitment to integrating crypto assets into traditional finance, ensuring transaction reliability amid growing cryptocurrency adoption.