Communication by the Bank of Italy Regulation (EU) 2023/1114 on Markets in Crypto assets (MiCAR)

Following its Communication on Decentralized Technology in Finance and Crypto-assets issued on 15 June 2022, today the Bank of Italy has published a new Communication on the implementation of Regulation (EU) 2023/1114 on Markets in Crypto-assets (MiCAR). The Bank of Italy thus intends to draw the attention of all crypto-asset market players on issues within its remit. The Communication, addressed also to the users, highlights the differences between the various categories of crypto-assets, in relation to their characteristics and to the different risk profiles associated with them, especially as regards whether or not they are suitable to perform a payment function.