Cryptocurrency crimes will be punished in Italy through regulations that establish fines between 5,000 euros and 5 million euros (USD $5,400 and USD $5.4 million).

People who commit crimes “such as insider trading, illegal disclosure of inside information or market manipulation related to digital currencies” will have to pay the high sums established by the authorities.

Italy seeks to implement stricter measures in the crypto market to control the risks linked to digital assets. All within the framework of the new laws of the European Union, the Crypto Asset Markets Law, MiCA.

The draft of new sanctions in Italy establishes that the country’s central bank and the market control body, Consob, will be in charge of implementation.

The new regulations add to independent measures by the Italian government to regulate the crypto industry.

M.Pino

Source: diariobitcoin

(Reference image source: Kanchanara in Unsplash)

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La entrada Italy to impose fines of USD 5 million for cryptocurrency crimes apareció primero en Bitfinance.

The cryptocurrency exchange Binance claimed not to have manipulated the market, after having received strong accusations about this and about going against the interests of users.

The company assured through its social networks that it could take legal action against these alleged defamation.

“Binance has never operated against our users or manipulated the market, and we never will,” the exchange said.

This whole issue arised after a user on Twitter under the name “RealFullTimeApe” indicated that the exchange “maintains an overview of the large levels of liquidity and raises / lowers the price on purpose to take them out and thus take advantage of it.”

Binance Holdings Limited has been repeatedly warned by authorities in various countries, including Italy, Malaysia, Poland, Germany, the United Kingdom, the Cayman Islands, Thailand, Canada, Japan, Singapore, and the Netherlands, to investors beware of the company, or to say that it is operating illegally.

K. Tovar

Source: Cointelegraph

La entrada Binance denies manipulating the market apareció primero en Bitfinance.