Rome, 25 June 2024 – Maxi-sanctions up to 5 million euros and even the prison for those who violate the rules. The government crackdown on bitcoin is coming, a highly speculative sector that has already entered the radar of the European Commission. Yesterday, the Council of Ministers approved a legislative decree that sets the rules for the so-called cryptocurrency market, along the lines of what has already been defined in Brussels and suggested by the central banks, starting with the Italian one.
It will be up to Bank of Italy, supported by Consob, the task of supervising this delicate sector and the two bodies will also have the power to revoke and suspend providers of services for crypto-assets. In particular, Consob will act above all to guarantee transparency and correct behavior while Via Nazionale will look at risk containment, asset stability and sound and prudent management to protect investors. The sanctions chapter is detailed, which also provides for prison and heavy fines, up to 5 million for physics and 15 million for institutions. On the criminal front, imprisonment from 6 months to 4 years, with a fine from 2,066 to 10,329 euros, is foreseen for anyone who provides services for crypto-assets, offers tokens to the public or issues electronic money tokens in violation of the European regulation. Administrative sanctions ranging from 5,000 euros to 5 million concern abuse, illicit communication of privileged information and market manipulation.
Yesterday the Council of Ministers also gave the green light to the infrastructure decree, a provision that affects 360 major works in the sector, from motorway concessions to commissioners, from the Bridge over the Strait of Messina to local public transport. The objective of the Minister of Infrastructure, Matteo Salvini, is above all to simplify and accelerate the opening of construction sites. The list of works that should receive a strong boost from the decree is long, starting with the symbolic infrastructure of the Bridge over the Strait.
On the government menu, there is also the Tarquinia-San Pietro in Palazzi road intervention, the Cisterna-Valmontone motorway connection, the safety and modernization of the Peschiera water system, the new headquarters of the excellent departments of the Carabinieri in Pisa .
