Search results for consob

A proposal dubbed “Document for Discussion” by Consob, a supervisory authority in Italy responsible for shielding consumers and investors from being overexploited by bad actors, to regulate initial coin offerings (ICOs) and all activities conducted by cryptocurrency exchanges deserves an in-depth analysis since the proposal carries a wide range of pros and cons.

Consob, the government authority responsible for regulating the Italian securities market, has decided to launch a debate on the possible regulation of cryptocurrency, blockchain, initial coin offerings (ICOs).

Financial institutions, including banks, are getting closer and closer to financial technologies (fintech) including cryptocurrency, blockchain, mobile payments and smart contracts, as they realize they have to keep pace with progress to make their work more efficient. A group of experts from Bank of Italy recently published a report dubbed "Banks and Fintech: strategies and business models" to explore the bond.

Several academic papers in Italy discuss the risks associated with cryptocurrencies including Bitcoin, Ethereum, Ripple and others, and warn that there are a number of vulnerabilities created by dependence on blockchain and distributed ledger technology, including cybercrime.

Last month, the Commissione Nazionale per la Societa e la Borsa (Consob), the government authority of Italy responsible for regulating the Italian securities market, released a document covering initial coin offerings and cryptocurrency exchange platforms in Italy. The authority engaged with all stakeholders such as savers, professionals, traders, promoters and others, with the aim of getting their point of view to be used in guiding the legislators especially in the present de iure condendo phase on the ICO.

The Italian Supervisory Authorities are planning to supervise blockchain and crypto activities in the country. The Commissione Nazionale per la Societa e la Borsa (Consob), an authority appointed to safeguard investors, presented an official document dubbed “Initial offers & crypto-activity exchanges” on March 19, aimed at organizing a national debate on the matter of initial coin offerings (ICO) and cryptocurrency exchanges – where citizens normally invest their funds.

Recently, the Central Bank of Italy published a report against digital currencies including Bitcoin (BTC), defining them as dangerous, useless, speculative and inefficient. The bank is not happy with how cryptocurrencies are being used.

The Commissione Nazionale per la Societa e la Borsa (Consob) has published a consultation on the Initial Coin Offerings (ICOs) which gives important innovative guidelines in Europe through a project seeking to safeguard both crypto users and broadcasters.

The newly appointed Chairman of the Supervisory Committee Paolo Savona, during the hearing of the Senate Finance Committee, explained the main points of his project on blockchain. Consob also focuses on protecting savings, Borsa Italiana reports.