Paolo Savona, the chairman of the Commissione Nazionale per le Società e la Borsa (Consob) — Italy’s securities regulator — has raised alarms over crypto’s growing popularity in the absence of firm regulatory standards.
According to Reuters, Savona made this position known while delivering Consob’s annual report on Monday stating that the lack of clear-cut regulations creates an opportunity for criminals to utilize crypto for illegal activities. According to Savona: