Italy suddenly takes action to scrutinize crypto risk control. Is the regulatory direction about to change?

[Chain News] Italy has taken new action. Their economic authorities have recently set their sights on cryptocurrencies, saying they want to thoroughly investigate whether the current risk control mechanisms are reliable—are there enough safeguards in place when retail investors buy coins? This initiative is a joint effort involving the central bank, the market regulator Consob, insurance and pension authorities, and the Ministry of Finance—several departments joining forces for a major move.

Regulators are getting a bit worried. They think that as crypto assets become increasingly intertwined with traditional finance, and with each country having its own set of regulations, the risks could keep escalating. Although Italy’s economy and financial system are relatively stable for now, with global circumstances so unpredictable, no one dares to take it lightly. It seems that Europe’s attitude toward the crypto market is shifting from a wait-and-see approach to taking proactive measures.