The government authority of Italy responsible for regulating the securities market, Consob, recently established rules, definitions and criteria for cryptocurrency and initial coin offerings (ICO) in a document that defines the outcome of the public consultation. Consob has published on its official website the final report on the initial offers and exchanges of crypto-activities.
The Italian professor who heads Consob, the government body responsible for regulating the securities market, revealed that for the country to achieve significant growth, joint action between the private sector and the Italian public is needed to stimulate alternative investments including cryptocurrency and blockchain technology.
The Central Bank of Italy, the government authority of Italy accountable for regulating the Italian securities market CONSOB (Italian Companies and Exchange Commission), IVASS (Italian Institute for the Supervision of Insurance) and the Ministry of Economic Development (MiSE), are trying to get the applications of financial technology (fintech), blockchain and artificial intelligence (AI) in the financial, credit and insurance industry off the ground but within specific rules and regulations.
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).
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.
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.