Legislative Decree 129/2024 has brought the Italian legal system into alignment with the c.d. MICA Regulation, which oversees the crypto-activity markets across Europe, and it has integrated its provisions with Legislative Decree 231/2001 and Legislative Decree 24/2023. As regards Decree 231: Article 34 of the measure provides that, in case of violations of the provisions of the MICA Regulation committed in the interest or for the benefit of an institution, by persons in senior positions or employees, Administrative fines of up to 15 million euro or, if higher, 15% of the total annual turnover are available. The infringements that can be sanctioned concern behaviour such as abuse or illicit dissemination of inside information, as well as market manipulation, with specific reference to crypto-asset trading activities.

With reference to the Whistleblowing Decree, it is clarified that article 41 of the new decree extends the scope of D.Lgs. 24/2023, including violations related to the MICA Regulation on crypto-activity markets.