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<p>If the EU authorities delay in introducing uniform rules for the circulation of <strong>digital assets</strong>, then Italy will take its own measures.</p>



<p>The uncontrolled spread of <strong>cryptocurrencies </strong>could harm the economy, said the head of the <strong>Italian financial regulator</strong> CONSOB <strong>Paolo Savona</strong>, <a href="https://www.reuters.com/business/unregulated-spread-cryptocurrencies-concern-says-italian-regulator-2021-06-14/" target="_blank" rel="noreferrer noopener">writes Reuters</a> .</p>



<p> In his opinion, <strong>digital assets</strong> contribute to illegal activities such as money laundering, and can also undermine the ability of central banks to conduct monetary policy.</p>



<p>In addition, <strong>cryptocurrencies </strong>can be used as a cover for tax evasion, <strong>terrorist financing</strong>, kidnapping and other <strong>criminal activities</strong>, Savona argues.</p>



<p class="has-text-align-center"><strong><em>“If it takes too long to find a solution at the European level, Italy will have to take its own measures,” the official said.</em></strong></p>



<p>In June, the banking regulator already called for tough rules to regulate <strong>cryptocurrencies</strong>. The Basel Committee on Banking Supervision, which operates under the Bank for International Settlements, believes that banks should have sufficient reserves to cover possible losses from investments in <strong>bitcoin</strong>.</p>



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