Italy’s central bank will soon share how the country should apply the EU’s MiCA crypto laws, with its governor slamming Bitcoin and Ethereum as “unbacked” cryptocurrencies.
Italy’s central bank will publish guidelines on how to apply incoming European Union crypto rules “in the coming days,” Bank of Italy Governor Fabio Panetta said Tuesday.
The guidelines will be ”aimed at facilitating an effective application” of the EU’s Markets in Crypto-Assets Regulation (MiCA) and to “protect the holders” of some cryptocurrencies, according to a text of Panetta’s July 9 speech to the Italian Banking Association.
He said MiCA outlines two primary categories of tokens — asset-reference tokens (ARTs) and electronic money tokens (EMTs) — as meeting the requirements to be used in payments.
