Italy will strengthen its monitoring of the cryptocurrency market, with fines of up to 5 million euros

ChainCatcher news, according to Reuters, Italy is strengthening its regulation of the cryptocurrency market and plans to impose hefty fines for market manipulation and insider trading. According to a draft document reviewed by Reuters, fines could reach up to 5 million euros (approximately 5.4 million dollars). The document is expected to be approved by the cabinet later today. The draft proposes fines ranging from 5,000 euros (approximately 5,400 dollars) to 5 million euros for activities involving insider trading, illegal disclosure of internal information, or market manipulation.