Bank of Italy to Lead Comprehensive Crypto Safeguard Assessment

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Italian authorities have commissioned a comprehensive evaluation of defenses against cryptocurrency risks, which are perceived to be on the rise. The Bank of Italy stated Thursday that the “in-depth review” was ordered by the Economy Ministry.

The examination will focus specifically on judging the suitability of current safeguards for investments tied to crypto-assets.

The directive came from a meeting of the Committee for Macroprudential Policies, a group comprising the chiefs of Italy’s central bank, market watchdog Consob, and other key financial regulatory agencies.

Committee members cautioned that the “risks associated with the spread of crypto-assets could increase,” pointing to greater integration with traditional finance and a patchwork of international regulations.

Alongside this new review focus, the committee noted that Italy’s wider financial stability environment remains broadly favorable, despite significant global uncertainties.