Italy’s finance watchdog Consob’s 2024 report found that the number of Italians investing in cryptocurrencies has surged from 8% in 2022 to 18% by early 2024. This marks a significant rise in adoption as cryptocurrencies continue to gain popularity in Italy,
However, the report noted that many investors are diving into the market without a comprehensive understanding of digital assets. It suggested that the surge in crypto might be driven more by trend-following than by informed investment decisions.
Furthermore, the report revealed a high level of familiarity with digital assets. Most people interviewed (86%) said they have heard of digital assets like cryptocurrencies.
However, just because they’ve heard of them doesn’t mean they really understand them, it said. Consob claimed that a large number of those people (between 23% and 50%) couldn’t answer basic questions about the main features of cryptocurrencies.
EXPLORE: How to Buy Bitcoin in Italy – 5 Best Exchanges Reviewed
Italian Interest In Green Investments
Alongside the rise in cryptocurrency investments, there is also a notable increase in green investments. The report shows that interest in sustainable investments has grown from 11% in 2022 to 20% in 2024.
These investments, often guided by financial advisors, are generally considered long-term and are becoming increasingly popular among Italians looking to support environmentally friendly initiatives.
Despite the growing enthusiasm for digital and green investments, traditional investment vehicles remain strong. Certificates of deposit, postal savings bonds, government bonds, and mutual funds continue to be widely held by Italians.
The enduring appeal of these traditional assets highlights a balanced approach to investment, with a mix of old and new investment strategies. The report also sheds light on the changing landscape of how Italians access financial information.
The internet has become the dominant source, with 67% of Italians relying on it for investment news, surpassing television at 43% and social media at 36%. Among younger Italians, aged 18 to 34, social media is equally popular as financial apps and websites for staying informed.
EXPLORE: 15 Best No KYC Crypto Exchanges for 2024
Italy To Release MiCA-Based Crypto Guidelines
As reported, Italy is gearing up to implement guidelines for crypto regulation in accordance with the European Union’s Markets in Crypto-Assets Regulation (MiCA) law.
During a speech at the Italian Banking Association (ABI), Fabio Panetta, Governor of the Bank of Italy, revealed that the central bank is set to publish guidelines that will outline the process of implementing the MiCA law in the country in the coming days.
Italy has recently taken measures to bolster its oversight of cryptocurrency markets in line with the MiCA regulatory framework. These steps aim to enhance surveillance, counter insider trading, and prevent market manipulation within the realm of digital assets.
The new decree introduces stringent measures to mitigate risks associated with cryptocurrencies. It includes substantial fines ranging from $5,400 to $5.4 million for offenses such as insider trading, market manipulation, and unauthorized disclosure of confidential information.
EXPLORE: 17 Best Cryptos ICOs to Invest in 2024
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
Why you can trust 99Bitcoins
Established in 2013, 99Bitcoin’s team members have been crypto experts since Bitcoin’s Early days.
Weekly Research
100k+Monthly readers
Expert contributors
2000+Crypto Projects Reviewed
Free Bitcoin Crash Course
- Enjoyed by over 100,000 students.
- One email a day, 7 days in a row.
- Short and educational, guaranteed!
Maximize Your Trading With Margex’s 20% Deposit Bonus
Hottest Meme Coins to Buy in April? Retail Target Latest Crypto For Mega Gains
AR.IO Brings The Permanent Cloud to AI Storage Crisis
10 Best Crypto Bonuses in 2025 – Top Exchange Offers & Promotions
4 Days Left For Early Investors in World’s First Meme Coin Index: Meme Coin Mcap Hits $56Bn
