Italy Proposes Stringent Measures to Tackle Crypto Market Manipulation

Italy is taking steps to enhance surveillance of crypto assets and address associated risks. According to a draft decree reviewed by a news agency, the plan includes imposing high fines on those who manipulate the market. The fines range from $5,400-$5.4 million (€5,000 to €5 million) for offenses such as insider trading, unlawful disclosure of inside information, or market manipulation. This initiative aligns with a European regulation from last year. Italy’s central bank and market watchdog, Consob, will oversee cryptocurrency activities to maintain financial stability and ensure orderly market functioning.

Source : Bitcoin News - Jun 21, 2024