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

09.07.2024 19:00 1 min. read Alexander Stefanov
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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.

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.

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