Bank of Italy publishes communication on distributed ledger technologies in finance and crypto-activities.

The Bank of Italy announced the publication of its Communication on decentralised technologies in finance and crypto-activities. In particular, the Communication highlights that it is aimed at achieving two objectives, namely:

1. to draw the attention of supervised intermediaries, supervised entities, and those operating in various capacities in decentralised ecosystems, including as users, to both the opportunities and risks associated with the use of such technologies in finance and with crypto-related activities and services; and
2. to highlight some profiles which are considered relevant to the identification, by the aforementioned subjects, of safeguards aimed at mitigating the risks associated with the use of decentralised technologies and/or with crypto-assets operations.