The four most famous international exchanges:

Binance INTL	OKX INTL	Gate.io INTL	Huobi INTL
China Line　APP DL	China Line　APP DL	China Line　APP DL	China Line　APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.

As Cointelegraph reported on February 11, the Italian securities regulator recently closed 6 foreign exchange trading websites and 2 cryptocurrency investment and derivatives trading websites.

Image source: pixabay

According to Finance Magnates
According to news on February 10, the Italian National Stock Exchange Supervisory Commission (CONSOB) accused these eight foreign exchange websites of violating Mifid2 regulations and the "Consolidated Financial Law" (TUF) and providing illegal trading products and services.

Italian encryption regulations

To protect investors, Italian authorities have moved to establish cryptocurrency regulations in the country. A 2016 ministerial resolution implemented the European Court of
a ruling by Justice. The bill stipulates that any transactions involving the exchange of fiat currencies and crypto assets shall not be taxed, but the gains and losses from these transactions shall be taxed.

The Italian Senate Committee on Corporate
Affairs) is also busy formulating regulations. Its purpose is to develop a regulatory guideline for all financial and information technology-related companies to regulate their financial transactions through electronic means:

“Decree No. 90 of 2017 requires virtual currency providers to comply with the regulations established for traditional currency exchange operators. To this end, Decree No. 90 instructs the Ministry of Economy and Finance to promulgate a ministerial decree on the legal conduct of such activities throughout the country method and timetable.”

Italian Cryptocurrency Outlook

Former Italian Economy and Finance Minister Giulio Tremonti expressed his views on the future of digital payments and the emergence of cryptocurrencies at the Code4Future conference.

During the meeting, Tremonti participated in a roundtable discussion. He believes that the opportunities provided by the financial technology industry are changing business logic and the role of traditional banks:

"Fintech activity can catch banks off guard. Alliances between traditional banks and emerging digital industries are critical. Such alliances incorporate new technologies but preserve old values."

Tremonti shared his thoughts on decentralized cryptocurrencies such as Bitcoin to Cointelegraph:

“Cryptocurrency is the way of the future and you can’t stop it. Still, Bitcoin doesn’t have a clear legal status, which is obviously a hurdle. According to accounting standards, it’s an asset you should include on your financial statements. But "If it is an asset that should be included in the financial statements, do VAT regulations apply when it is sold? This is still an area of uncertainty."