Euro

Governor of the Bank of Italy: Only digital euro can effectively manage cryptocurrency risks, MiCA has limited impact on stablecoins

ChainCatcher news, according to Cointelegraph, Fabio Panetta, the Governor of the Bank of Italy, pointed out in the annual report on May 30 that the EU's Markets in Crypto-Assets Regulation (MiCA) has had limited effects on promoting the adoption of compliant stablecoins. Since the regulation comes into full effect at the end of 2024, only a small number of electronic money tokens (EMT) stablecoins have been issued across the EU, and Italian regulators have not observed significant interest from local companies in issuing crypto assets.Panetta believes that regulatory rules alone cannot mitigate the systemic risks of crypto assets, and central bank digital currencies (CBDCs) are the key tool. He warned that foreign crypto platforms may lack transparency and risk control capabilities due to differing regulatory standards, posing a threat to the safety of funds for EU citizens, and that a global regulatory framework needs to be established through international cooperation.The digital euro project can meet the market's demand for secure and efficient digital payment tools while maintaining the anchoring role of central bank money. This view echoes the assertion of ECB Executive Board member Piero Cipollone—currently, dollar stablecoins hold a 97% market share, and the promotion of central bank digital currencies is urgent.One month before this statement was released, Tether CEO Paolo Ardoino refused to apply for MiCA licensing for USDT, citing "threats to the European banking system."

Report: Surge in Cryptocurrency Crimes in the Western Balkans, Involving Amounts Exceeding Tens of Millions of Euros

ChainCatcher news, according to Decrypt, the latest research by the international NGO Global Initiative Against Transnational Organized Crime (GI-TOC) shows that the use of cryptocurrency in criminal activities in the Western Balkans (including countries like Albania and Serbia) continues to expand, primarily involving money laundering, drug trafficking, and illegal mining. The core data is as follows:Scale and Patterns of CrimeThe annual cryptocurrency transaction volume in the Western Balkans reaches $25 billion to $30 billion, with tens of millions of euros directly linked to criminal networks, funds are transferred through cryptocurrency wallets and used for legitimate business investments.Montenegro has become a key node for darknet cryptocurrency transactions, and Albania and Serbia have recently seen instances of using cryptocurrency to launder drug trafficking funds.Law Enforcement ChallengesThe region has recorded only 3 cases of cryptocurrency seizures to date (all occurring in the last three years), with the most recent case involving an Albanian criminal group from November 2024 to January 2025, seizing $10 million in crypto assets.Among the six countries, only Albania, Serbia, and Kosovo have enacted laws related to digital assets, but the implementation rules in Kosovo have yet to come into effect.Regulatory and Collaborative ShortcomingsThe EU's Markets in Crypto-Assets Regulation (MiCA) has not yet covered the non-member Western Balkans, and there is insufficient cross-border tracking technological capability.GI-TOC senior analyst Sasa Djordjevic pointed out the need to accelerate the adoption of FATF anti-money laundering standards, strengthen collaboration with Europol and Interpol, and deploy blockchain analysis tools to enhance law enforcement efficiency.The research warns that if the regulatory framework and law enforcement capabilities do not upgrade in sync, the cryptocurrency crime problem in the region will continue to worsen.
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