(Finance) – On the regulation of crypto assets “we are behind, yes. However, we are proceeding on a path marked out for a long time. I imagine there will be a response not only from us, but globallyand: in the USA, where there is more resistance, it is important that there is an answer”. This was underlined by the governor of the Bank of Italy, Ignazio Visco, in his speech on the final day of the Payment hall in Milan. In Europe, he added, “we have regulation of cryptoactivity which is in the process of being adopted: it is called Mica and has the objective of regulating stablecoins” and foresees “a series of steps to inform citizens”, he added.
For the stablecoins”there must be rules, the same rules that apply to banks when they work with customers: capital, deposit insurance and obviously well-defined governance is needed”, explained Visco during his speech during which he spoke at length about the risks related to the cryptocurrency system and defined that ofand “stablecoin another world”, able to allow “very effective cost reduction and positive results”.
“Micar is a regulation not a directive once it is decided it is applied: we will start applying it from the spring. The world is changing very rapidly, we try to keep up with the speed with which it changes and it is said that we will always be able. Where there are no rules, new proposals can emerge, it is important to have not only regulatory tools but also observation skills “, she commented.
About Bitcoins “it’s a bet, we can prevent betting but if there is pleasure for the game, let it be played. You have to be careful. We can’t police bets, but we can regulate them. The same goes for crypto-assets”, added Visco: “It is a complex path, we are aware of the need to guarantee rules that are well known and also applied”. For the governor “the attempt is to always be in time with change, for now we are but even in our country there can be problems for those who invest recklessly: we must prevent this from happening”he concluded.