Duties, Giorgetti: ‘New policy on cryptocurrencies even more dangerous’

Milan, 15 Apr. (LaPresse) – ‘The general attention is rightly focused these days on the impact of trade tariffs, however the new policy on cryptocurrencies, in particular the one on stable coins denominated in dollars, is even more dangerous and abstract’. This was stated by the Minister of Economy and Finance, Giancarlo Giorgetti, in a video link at the Salone del Risparmio. ‘If the forecasts of the Genius Act are confirmed, savers from all over the world would have the opportunity to invest in substantially risk-free assets that also have a widely accepted means of payment for cross-border transactions, all without the need for an account with a US banking institution. And so I would say it's easy to see why it would be attractive to residents of economies with unstable currencies, but it doesn't go below the level we've assessed as being attractive to citizens of the Eurozone either, especially if our retail payment system continues to be fragmented and lacking in solutions that cover all use cases and are accepted throughout the area,’ he explained.