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According to a current statement by an Italian official, cryptocurrencies can be made use of in income laundering, tax evasion, terrorist financing, and so forth.
Paolo Savona, the president of the Italian securities regulator, lately raised issues in the watchdog’s annual report about the unregulated cryptocurrency industry.
Particularly, he stated: “Without right oversight of the market, transparency, the basis of legitimacy and rational selection for (industry) operators will deteriorate. worse”.
The report indicates about four,000 – five,000 cryptocurrencies are in circulation devoid of any type of regulation.
“If regulators at the European level take also lengthy to come up with a option, Italy will have to implement its personal measures,” he stressed.
Some lawmakers about the planet have expressed related issues as Paolo. In it, the President of the European Central Bank (ECB), Christine Lagarde, when stated that the majority of cryptocurrencies are made use of in illegal activities, specifically income laundering.
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According to Blogtienao
Compiled by ToiYeuBitcoin
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