Italian Central Bank to Release Cryptocurrency Guidelines in the Coming Days

According to a report by Reuters, the Italian Central Bank (Banca d’Italia) announced yesterday that it will publish guidelines on how to apply the upcoming European Union cryptocurrency regulations. The bank is headed by Fabio Panetta.

These guidelines aim to facilitate the effective implementation of the EU’s Market in Crypto-Assets Regulation (MiCA) while safeguarding certain cryptocurrency holders.

MiCA classifies tokens into two main types: Asset-Reference Tokens (ARTs) and Electronic Money Tokens (EMTs). However, the Italian Central Bank asserts that only EMTs are suitable as a means of payment, ensuring public confidence.

This preference for EMTs stems from their value being tied to a single official currency, whereas ARTs derive their value from one or more underlying assets.

Sentiment: Positive