Binance
Hey folks.
Data released by Italian financial regulator Consob on Tuesday revealed that the number of Italians who hold cryptocurrency has considerably expanded, more than doubling in just two years from 2022 to 2024.
However, there isn't always a correlation between this increasing popularity and increased knowledge of these digital assets.
A survey conducted this year, which included over 2,000 investors, found that the primary source of investment information for most of the investors in Italy is the Internet.
Television comes in a distant second, with financial platforms and social media coming in third. Meanwhile, people prefer reading news from print and online newspapers over information from financial institutions.
Additionally, Consob stated that for younger adults, women, lower-income households, and those having less financial knowledge, the more notable source of financial information is social media.
According to the survey, the household's highest earner is usually the one who handles funds and makes financial decisions. This person, who is 51 years old on average, is a man in 78% of these situations.
In order to increase oversight of the crypto market, Italy is taking steps. The country announced plans in January to introduce strict regulations including heavy fines for industry manipulation.
Furthermore, the Central Bank of Italia is developing guidelines to execute the EU Markets in Crypto Assets (MiCA) law, which is set to take effect later this year.