Italian financial regulatory body Consob debate possible regulation for cryptocurrencies
|- Consob is responsible for the regulation of the Italian securities market, are starting a debate regarding regulation of digital assets.
- Their document known as a document for discussion is really aimed at protecting investors.
The financial government authority in Italy, Consob, who are responsible for regulating the Italian securities market, has decided to launch a political debate on the possible regulation of cryptocurrency, blockchain, initial coin offerings (ICOs).
Consob produced a document dubbed “Document for Discussion”, with the aim of protecting investors.
The documented detailed:
ICOs are also normally compared and regarded as initial public offerings (IPOs), seeing as they share some similarities, for instance, how blockchain is leveraged and the associated disintermediation with respect to those typically operating on the capital markets; the use of virtual currencies for the payment of crypto-assets; advertising and promotion of offers via the web; and the publication of a so-called whitepaper instead of the prescribed prospectus for IPOs.
Consob detailed within their document that their perusing of possible regulation, submitting to those who wish to contribute in the public consultation, a series of questions mentioning to each of the regulatory proposals put forward by the authority.
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