Italy Bolsters Crypto Risk Surveillance in New Draft Decree

Italy takes on crypto asset risks with tougher surveillance measures and hefty fines for offenders.

Surveillance camera scanning a humanoid robot in a digital room.
Created by Gabor Kovacs from DailyCoin
  • Italy is reportedly working on a new draft decree.
  • This is part of the country’s effort to bolster crypto oversight.
  • The draft decree is due for approval later today.  

Italy’s cabinet is reportedly due to approve a new draft decree later on Thursday to reinforce surveillance over crypto assets and punish market manipulators with multimillion-dollar fines.

The move is part of Italy’s ongoing efforts to boost digital asset oversight as the greater European Union gears up to enforce the Markets in Crypto Asset (MiCA) regime gradually later in the year.

Italy’s New Crypto Decree

According to a June 20 Reuters report, the new decree seeks to address risks tied to cryptocurrencies with stringent measures, including hefty fines of between $5,400 and $5.4 million for insider trading, market manipulation, or unlawful disclosure of inside information.


The draft decree, anchored in the framework laid out by a European regulation last year, has designated two institutions to oversee crypto activities in the country. This includes Italy’s central bank and market watchdog Consob, which will both work to preserve financial stability and foster an “orderly functioning of markets.”

While the decree’s approval will likely usher in a new era of crypto-focused laws, Italy has been actively engaged in digital asset exchange oversight since January 2022.

The Ministry of Economy and Finance (MEF) requires all Italian and foreign crypto service providers to enroll in the special register with the Organismo Agenti e Mediatori (OAM), the supervisory body overseeing financial activities and credit brokerage operations.


This implies that crypto users in the country can only use registered digital asset service providers, fostering transparency and compliance with Anti-Money Laundering (AML) measures.

Various virtual asset companies are listed on the register, including Binance Italy, Bitpanda, BitGo Europe, BitPay, Bitstamp Europe, and others.

Read how Coinbase obtained approval to operate in Italy:
Coinbase Approved to Operate in Italy Despite Rising Insolvency Rumors

Stay updated on why Binance was recently fined in India:
Binance Faces $2.25M Fine for Violating India’s AML Laws

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Brian Danga

Brian Danga, a Kenyan crypto reporter, is dedicated to delivering breaking news and updates from the cryptocurrency world. With a background as a Web3 writer and project manager, he recognizes the importance of unbiased reporting. Holding an LLB degree from the University of Nairobi, Brian's analytical skills contribute to his accurate news reporting. His personal interests include cooking, watching documentaries, reading, and engaging in intellectual discussions.