The Italian Securities and Exchange Supervision Commission (CONSOB) has closed six cryptocurrency exchange sites and two on their derivatives trading due to violation of the law.
The regulator referred to the fact that 8 FX sites illegally provide trading services and products, thereby violating several regulations at once.
In order to protect investors, the Italian authorities have alreadyIn 2016, the EU adopted a resolution stating that any transaction related to the exchange of cryptocurrency for fiat is not subject to tax, but is subject to taxationfinancial results of these operations (profit or loss).
Italian Senate Committee on Corporate AffairsHe also took up this issue and will create a guideline for regulating all finances and IT companies using electronic currency. Because crypto providers must obey the same rules as traditional operators.
Basel Committee on Banking Supervision alsoHe wants financial institutions to be prudent and cautious about working with virtual assets, so he decided to set coverage levels for cryptocurrency risks.
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