{"id":24752,"date":"2024-07-10T20:00:41","date_gmt":"2024-07-10T17:00:41","guid":{"rendered":"https:\/\/coinengineer.io\/?p=24752"},"modified":"2024-07-10T10:57:49","modified_gmt":"2024-07-10T07:57:49","slug":"italys-central-bank-to-issue-guidelines-for-eu-crypto-rules","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/italys-central-bank-to-issue-guidelines-for-eu-crypto-rules\/","title":{"rendered":"Italy&#8217;s Central Bank to Issue Guidelines for EU Crypto Rules"},"content":{"rendered":"<p><strong>Bank of Italy Governor Fabio Panetta<\/strong> said on Tuesday that Italy&#8217;s central bank would soon release rules to help the European Union&#8217;s crypto laws be applied.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/italys-central-bank-to-issue-guidelines-for-eu-crypto-rules\/#MiCA_Implementation_and_Investor_Protection\" title=\"MiCA Implementation and Investor Protection\">MiCA Implementation and Investor Protection<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/italys-central-bank-to-issue-guidelines-for-eu-crypto-rules\/#Risks_and_Regulatory_Actions\" title=\"Risks and Regulatory Actions\">Risks and Regulatory Actions<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"MiCA_Implementation_and_Investor_Protection\"><\/span>MiCA Implementation and Investor Protection<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>According to Panetta&#8217;s July 9 address to the <strong>Italian<\/strong> <strong>Banking<\/strong> <strong>Association<\/strong>, the rules seek to safeguard holders of certain cryptocurrencies and for the EU&#8217;s <strong>Markets in Crypto-Assets Regulation (MiCA)<\/strong> to be applied effectively.<\/p>\n<p>With <strong>Panetta<\/strong> pointing out that EMTs are more suited for payment purposes since they relate to a single official currency, like a US dollar-backed stablecoin, MiCA separates tokens into asset-reference tokens (ARTs) and electronic money tokens (EMTs). Unlike ARTs, which are linked to many assets\u2014such as the gold-backed token PAX Gold (PAXG)\u2014they are based on.<\/p>\n<p>Comparatively to gambling, Panetta said Bitcoin and Ether are &#8220;unbacked crypto-assets&#8221; with no inherent value and are often used to evade tax and legal responsibilities.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Risks_and_Regulatory_Actions\"><\/span>Risks and Regulatory Actions<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Although now modest, he voiced worries about the eventual rise in the number of ignorant investors in unbacked cryptocurrencies. Such assets, Panetta underlined, are not money\u2014a source of payment, a store of value, a unit of account\u2014but rather something else.<\/p>\n<p>In accordance with <strong>MiCA<\/strong>, the Italian government intends to improve monitoring of crypto marketplaces. A late June Reuters article claims that a judgment would punish market manipulation and insider trading between $5,400 and $5.4 million.<\/p>\n<p><i><span style=\"font-weight: 400;\">You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our <\/span><\/i><a href=\"https:\/\/t.me\/coinengineernews\"><i><span style=\"font-weight: 400;\">Telegram, <\/span><\/i><\/a><a href=\"https:\/\/www.youtube.com\/@CoinEngineer\"><i><span style=\"font-weight: 400;\">YouTube<\/span><\/i><\/a><i><span style=\"font-weight: 400;\">, and <\/span><\/i><a href=\"https:\/\/twitter.com\/coinengineers\"><i><span style=\"font-weight: 400;\">Twitter<\/span><\/i><\/a><i><span style=\"font-weight: 400;\"> channels for the latest <\/span><\/i><a href=\"https:\/\/coinengineer.net\/blog\/news\/\"><i><span style=\"font-weight: 400;\">news<\/span><\/i><\/a><i><span style=\"font-weight: 400;\"> and updates.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bank of Italy Governor Fabio Panetta said on Tuesday that Italy&#8217;s central bank would soon release rules to help the European Union&#8217;s crypto laws be applied. MiCA Implementation and Investor Protection According to Panetta&#8217;s July 9 address to the Italian Banking Association, the rules seek to safeguard holders of certain cryptocurrencies and for the EU&#8217;s<\/p>\n","protected":false},"author":6,"featured_media":24753,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,657,1,2],"tags":[7295,7294],"class_list":["post-24752","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-en","category-genel","category-news","tag-italy-central-bank","tag-markets-in-crypto-assets-regulation-mica"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Italy&#039;s Central Bank to Issue Guidelines for EU Crypto Rules - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/italys-central-bank-to-issue-guidelines-for-eu-crypto-rules\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Italy&#039;s Central Bank to Issue Guidelines for EU Crypto Rules - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Bank of Italy Governor Fabio Panetta said on Tuesday that Italy&#8217;s central bank would soon release rules to help the European Union&#8217;s crypto laws be applied. 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