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<ul><li>Italy enforces stringent new measures on crypto assets, aiming to enhance market integrity and financial stability.</li><li>Hefty fines of up to 5 million euros for market manipulation and insider trading under new legislation aligned with EU regulations.</li><li>Bank of Italy and Consob will oversee cryptocurrency activities amid global concerns over financial risks.</li></ul>Italy will enforce rigorous new measures to tighten oversight on crypto assets to enhance market integrity and financial stability. A recent <a href="https://www.reuters.com/technology/italy-boosts-crypto-risk-oversight-toughens-sanctions-draft-shows-2024-06-20/#:~:text&#61;Italy%20boosts%20crypto%20risk%20oversight%20and%20toughens%20sanctions%2C%20draft%20shows,-By%20Reuters&amp;text&#61;ROME%2C%20June%2020%20%28Reuters%29,by%20Reuters%20showed%20on%20Thursday" rel="noopener noreferrer nofollow">report </a>states these measures include imposing significant fines on individuals engaging in market manipulation and other illicit activities related to cryptocurrencies. The cabinet is expected to ratify this decree later the same day.The legislation mandates hefty penalties ranging from 5,000 to 5 million euros ($5,400-$5.4 million) for insider trading, unlawful disclosure of information, and market manipulation. This initiative aligns with the European Union&#39;s <a href="https://cryptotale.org/indias-regulatory-concern-intensifies-binance-fined-%e2%82%b918-82-crore-for-pmla-violation/" rel="noopener noreferrer nofollow">regulatory framework</a> established last year, showcasing Italy&#39;s dedication to maintaining a secure and orderly financial system.According to the new rules, the Bank of Italy and Consob, the Financial Market Authority in Italy, will mainly supervise cryptocurrency-related activities. These institutions are accountable for financial integrity and the proper functioning of markets. This effort emerges as global anxiety grows over unstable macroeconomic and financial volatility spurred by cryptocurrencies that possess no intrinsic value.<a href="https://cryptotale.org/italy-enforces-new-crypto-regulations-with-fines-up-to-e5-million-report/" rel="noopener noreferrer nofollow">Read more on CryptoTale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Italy Enforces New Crypto Regulations with Fines Up to €5 Million: Report

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