Italy to increase oversight of digital asset market
The policy, moving Italy further towards the standards laid out by MiCA, also designates Italy's central bank and market watchdog, Consob, as the authorities overseeing digital asset activities.
Latest Italy News
Project Leonidas update: Italian banks complete wholesale CBDC trial
The Italian Banking Association trialed a wholesale CBDC issuance within a DLT environment, with atomicity, transparency and traceability as the major benefits.
Italy: AI-using Trento city fined over data protection rules violations
Authorities fined the city for using artificial intelligence in street surveillance projects, which integrated an AI-powered facial recognition system in two European Union-funded surveillance projects.
Italian regulator accuses OpenAI of violating data protection laws
OpenAI’s ChatGPT violates the provisions of the European Union’s GDPR, the regional bloc’s rule book on information privacy, according to the Italian Data Protection Authority.
AI regulation on top of Italy’s priority list as it takes on G7 presidency
Italy, as the new G7 president, prioritizes AI regulation for industry innovation, with Prime Minister Giorgia Meloni planning a dedicated session before the G7 summit to establish cohesive regulations.
Italy, South Korea sign MOU for CBDC, payment systems and ICT
The central banks of Italy and South Korea have signed a memorandum of understanding for a central bank digital currency cooperation and to also strengthen their partnership on ICT and payment systems.
Italy launches probe into AI data scraping
The Italian Data Protection Authority has launched a fact-finding mission to investigate how companies collect data to train their artificial intelligence (AI) algorithms.
18 Italian banks collaborate for wholesale CBDC relying on blockchain
Exploring blockchain payment solutions, the Bank of Italy introduces Project Leonidas, a scheme that 14 local banks will drive in an attempt to promote financial stability and consumer protection.
Italy earmarks $33M for workers at risk of replacement by AI
Italy will use the money to boost the skills of those at risk of AI replacement and train unemployed people on digital skills for the new era of work.
Italian banks support digital euro, but express concern over bank disintermediation
The Italian Banking Association wants a programable digital euro—which the European Central Bank is against—as long as it complements existing commercial bank instruments.
Digital assets and DLT have utility, but they must be strictly regulated: Italian central bank
“Crypto-assets with no intrinsic value” must be curtailed while also noting that digital assets can reduce cross-border costs, according to Bank of Italy Governor Ignazio Visco.
Italian parliament approves 26% gains tax on digital assets
Italy has found a way to cope with existing crises plaguing the country—by enacting a 26% capital gain on digital asset traders, a move that garnered 109-79 votes from lawmakers.