ChainCatcher news, according to Cointelegraph, Italy's central bank governor Fabio Panetta stated that the Bank of Italy will announce guidelines on how to apply the upcoming EU cryptocurrency regulations in the coming days.According to Panetta's speech at the Italian Banking Association, these guidelines will "aim to promote effective application" of the EU's Markets in Crypto-Assets Regulation (MiCA) and "protect" certain cryptocurrency holders. MiCA outlines two main categories of tokens: Asset-Referenced Tokens (ARTs) and Electronic Money Tokens (EMTs), which meet the requirements for payment.However, he pointed out that the Bank of Italy found that only EMTs can "fully perform the function of a means of payment while maintaining public trust."

ChainCatcher news, ECB Executive Board member Panetta stated that the Bank of Italy will issue a market notice in the coming days on how to implement the upcoming EU crypto asset regulation "MICAR". "MICAR" defines electronic money tokens (EMT) and asset-referenced tokens (ART) as means of payment and exchange.

ChainCatcher news, according to Cointelegraph, the Bank of Italy has officially announced that it has signed a memorandum of understanding with the Bank of Korea (Korea Central Bank) regarding information technology and payment systems. According to the Bank of Italy, the memorandum will require "mutual sharing of knowledge and information" on information and communication technology (ICT) issues, specifically mentioning ICT issues related to real-time settlement systems and central bank digital currencies (CBDCs).The Bank of Italy is primarily focused on the interoperability of transaction solutions based on distributed ledger technology (DLT) settled through hash-linked contracts. South Korea began piloting CBDC infrastructure technology in October of this year. The pilot includes private banks and public institutions, supported by the Bank for International Settlements (BIS).

ChainCatcher news, according to Cointelegraph, the Bank of Italy's innovation hub will support a project developed by Cetif Advisory, which aims to study the ecosystem of security tokens in institutional DeFi, supported by Polygon and Fireblocks.It is reported that the project will strive to enable institutional market participants to operate in DeFi while complying with regulatory requirements. It will further develop Cetif Advisory's Lionity platform, described as an "institutional-grade AMM." (source link)

ChainCatcher news, the Bank of Italy released the June report on "Markets, Infrastructures and Payment Systems," calling for regulators to establish a robust, risk-based regulatory framework for stablecoins to prevent "runs" on stablecoins. The report suggests that regulators apply the same financial conduct standards to stablecoin issuers in the industry.The Bank of Italy stated that the rise of cryptocurrencies, coupled with several boom and bust cycles in an unregulated environment, has caused significant harm to consumers. Given the close relationship between stablecoins and DeFi, regulators should particularly prioritize stablecoin issuers. Policy interventions for stablecoins and DeFi must remain well-synchronized, as the adoption of stablecoins could stimulate a new wave of DeFi innovation and enhance the interconnectivity between traditional finance and decentralized finance.Additionally, the Bank of Italy emphasized that there is no need to subject all crypto assets or activities to financial services regulation and called for international cooperation to establish a global regulatory framework. (Cointelegraph)