TechFlow reported on February 17 that, according to Cointelegraph, Fabio Panetta, Governor of the Bank of Italy, said at the 31st Assiom Forex Conference that the central bank is engaging in discussions with cryptocurrency service providers together with securities regulator Consob to ensure they have adequate risk mitigation measures in place.
Panetta noted differences between Europe and the United States in crypto regulation: while the EU adopts the MiCA framework to protect investors, the U.S. regulates on a case-by-case basis depending on the nature of the asset. The Bank of Italy will focus on controlling strategic, operational, financial risks, and anti-money laundering measures, while remaining vigilant about the potential impact digital tokens issued by tech giants could have on the traditional banking system.
