Home » Bankitalia, Visco: strong risks from uncontrolled crypto-asset diffusion

Bankitalia, Visco: strong risks from uncontrolled crypto-asset diffusion

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The uncontrolled diffusion of crypto-assets presents strong risks to the public and we are constantly committed to containing them, informing savers of the dangers associated with investments in those digital assets which, by their nature, have an unstable value and are highly exposed to speculative bubbles. Thus Ignazio Visco, governor of the Bank of Italy at the Annual Conference of the European Association of Banking and Financial Law according to which, “for the so-called stablecoins, which aim to maintain a stable value over time and which could be used for payments, we collaborated in the drafting of the ten recommendations adopted by the Financial Stability Board and recognized by the Group of Seven (G7) regarding the regulatory and supervisory implications “. “We have also actively participated in the negotiation for the definition of a European regulatory framework aimed, among other things, at guaranteeing the redeemability of these assets. We operate in the fora of international cooperation to ensure that innovations in private digital payments are secure; as reiterated within the G7 no stablecoin project can be launched until the necessary legal, regulatory and supervisory requirements are adequately met “.

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