Italy’s Financial Watchdog Raises Concerns Over Unregulated Cryptocurrency Ma...
The chairman of Italy’s financial regulator has raised concerns over the cryptocurrency market without proper regulation. “Without proper oversight there could be a worsening in market transparency, the basis of legality and rational choice for (market) operators,” he said. Chairman of Italy’s Securities Regulator Sees Issues With Unregulated Cryptocurrency Market The chairman of the Commissione Nazionale per le Società e la Borsa (Consob), Paolo Savona, voiced concerns regarding cryptocurrency Monday. Consob is the government authority of Italy responsible....
Related News
UK's top financial watchdog wants to bar investors from accessing government compensation in the event of crypto scams or not-at-fault financial loss. On Wednesday, Nikhil Rathi, CEO of the United Kingdom's Financial Conduct Authority, or FCA, issued the following statement to the Treasury Committee when asked about the risks of the much-unregulated cryptocurrency sector in the country:When we talk about the compensation scheme, we have to draw some pretty clear lines. I would suggest anything is crypto-related should not be entitled to compensations, and consumers should be clear about....
The warning comes a day after the regulator's U.K. counterpart, the Financial Conduct Authority, also raised similar concerns.
New Zealand’s financial regulator issued a warning alert to local cryptocurrency investors and traders amid the recent bitcoin’s price action. The Financial Markets Authority (FMA) asks people to remain cautious because cryptos are “high risk and highly volatile assets.” FMA Warns About Unregulated Overseas Crypto Exchanges According to an official statement published in the NZ Herald, New Zealand’s financial watchdog is concerned about the latest “rollercoaster move” seen in the bitcoin (BTC) price. “Cryptocurrencies are not regulated in New....
It is evident Italy’s banking sector is on the brink of collapse, and a crisis is unavoidable unless new capital enters the market. Italy’s financial situation is getting out of hand as of late. With virtually ever bank in the country struggling with bad debt, finding a solution is not easy. For now, it appears the banks will need US$21bn in fresh capital. The current plans it to raise that money through a bailout. A very precarious situation that highlights how fragile the global economy is at this time. Adding another layer to Italy’s mountain of debt does not make much sense on paper.....
Binance lost access to the sterling payment network in July; however, the Paysafe partnership opened the gates to restricted services. The Financial Conduct Authority (FCA), the top financial authority in the United Kingdom, has raised concerns over Binance’s recent partnership with Paysafe, a retail payment processor.The U.K. financial watchdog said the latest partnership of Binance gives it access to the extensive retail payments network via Faster Payment Services, a critical service that was discontinued for the crypto exchange citing regulatory concerns. The FCA ordered Binance to....