(ANSA) – ROME, FEB 7 – Economy Minister Giancarlo Giorgetti said Friday that the spread of crypto-assets was a growing challenge on many fronts, including the fight against crime.
“One of the most insidious and pervasive threats today comes from the crypto-asset market, which is rapidly expanding thanks to the interconnection between the financial and digital world and has attracted the appetites of criminals,” Giorgetti said at the opening of the academic year of the finance police’s school of economic and financial policing.
“Digital technologies have made everything easier to use and faster, increasing the demand for a new digital finance.
“But we must be aware that, if the demand is not satisfied by official institutions, it is inevitable that it will be intercepted by criminal organizations.
“Bitcoin and cryptocurrencies are an opportunity but also a high risk for the volatility of the system and, thanks to their anonymity and non-territorial nature, they have also become a means of laundering money or are used by some nations as an alternative currency to loosen or evade the sanctions that oppress their economy.
“It is therefore necessary to find a balance between innovation and regulations”. (ANSA).
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“One of the most insidious and pervasive threats today comes from the crypto-asset market, which is rapidly expanding thanks to the interconnection between the financial and digital world and has attracted the appetites of criminals,” Giorgetti said at the opening of the academic year of the finance police’s school of economic and financial policing.
“Digital technologies have made everything easier to use and faster, increasing the demand for a new digital finance.
“But we must be aware that, if the demand is not satisfied by official institutions, it is inevitable that it will be intercepted by criminal organizations.
“Bitcoin and cryptocurrencies are an opportunity but also a high risk for the volatility of the system and, thanks to their anonymity and non-territorial nature, they have also become a means of laundering money or are used by some nations as an alternative currency to loosen or evade the sanctions that oppress their economy.
“It is therefore necessary to find a balance between innovation and regulations”. (ANSA).
Read article…
