ROME (ITALPRESS) – On the “possible divergences in terms of regulation,” we have all seen “the announcements of the new U.S. administration concerning banking, finance and crypto assets. This is of interest to us because there is a different trend, the U.S. is going to deregulate, perhaps too much, and Europe also. This divergence in the legal and regulatory framework between the U.S. and the EU is something to think about. If a sprawling deregulatory effort were to begin in the U.S. could the U.S. be chased? The race to the bottom would not be desirable.” Thus Bank of Italy Governor Fabio Panetta, speaking at the Abi Executive Committee. “We must avoid regulatory excesses because if the world was marching in the same direction until yesterday and regulatory excess did not generate competitive disadvantages, today instead the risk is real. It is time to think seriously about simplification, which does not mean deregulation,” he notes, “but an overall assessment of regulations to see if there is not an excess of regulatory burden. We have yet to fully understand what regulatory system will be proposed by the new U.S. administration.”
– Photo: Ipa Agency –
(ITALPRESS).
