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.
Turkey is preparing to roll out a series of strict crypto regulations aimed at curbing financial crimes tied to illegal gambling and online fraud, according to new comments from Finance Minister Mehmet Simsek.
Japan is preparing to dramatically reshape its cryptocurrency regulations, with officials drafting a proposal that would reclassify digital assets and streamline their tax treatment.
In a significant policy shift, the U.S. Federal Reserve has quietly removed reputational risk as a factor in evaluating banks, a move that could make it easier for financial institutions to offer cryptocurrency services without fear of regulatory backlash.
Europe is emerging as the new global crypto hub, propelled by its MiCA regulatory framework, which is attracting investors and platforms alike.