Italian Government Holds First Bitcoin Hearings This June

Italy’s House of Parliament is placed to host two hearings regarding the risks, promises and opportunities posed by digital currencies including bitcoin and bitcoin latest technologies this June.

Photo: 
Dan Hoogestraat/Flickr

Photo: Dan Hoogestraat/Flickr

Italy’s House of Parliament is placed to host two hearings regarding the risks, promises and opportunities posed by digital currencies including bitcoin and bitcoin latest technologies this June as the government wants to broaden knowledge on the subject.

A number of different people will be attending the event including local lawmakers, academics as well as international representatives from the bitcoin industry.

The parliament member Stefano Quintarelli and Senate Vice President of Treasury and Finance Committee Francesco Molinari are participants of the first hearing that is set to happen on 11th June.

The second meeting is organized by digital payment advocacy group CashlessWay and the event will take place on 26th June.

Among the speakers will be such notable people as Stefano Pepe, co-founder of independent local trade association Bitcoin Foundation Italy, parliament member Sergio Boccadutri and Robocoin CEO Jordan Kelley.

Mr. Boccadutri mentioned in his conversation with CoinDesk that this will be the first time when the country’s institutions, businesses and entrepreneurs will be given a chance to discuss bitcoin and its potential impact on Italy’s economy in public.

The lawmaker mentioned:

“My goal is to create, for the first time, a real and rational debate about cryptocurrencies, studying all the aspects of the new phenomenon: not only the business opportunities, but also the tax implications and the controls to avoid criminal activities.”

Technical overview

As mentioned by Sebastiano Scrofina, an organizer of the first meeting, specifies the events will focus on educating lawmakers, law enforcement agencies and members of Italy’s traditional banking industry.

Mr. Scrofina thinks there will be around 15 parliament members to attend the hearings:

“Oftentimes, in Italy, politicians just don’t dig deeper into the topic. Our goal is to explain in detail the technology, the block chain, the difference between bitcoin and altcoins and block chain forensics in technical detail.”

The closed meeting is arranged to start at 14:30 an finish at 18:50 local time, the meeting has time for open question-and-answer session.

Eye toward regulation

While the first meeting is closed, the second one will be open to the public. However, the final list of the speakers has not been confirmed yet, one of the participants is the CEO of Robocoin, Jordan Kelley.

Moreover, Mr. Boccadutri is the only attendant from the parliament.

Boccadutri said:

“A survey from the point of view of the legislature is necessary, from my point of view, to deepen the treatment of so-called ‘transactions’ that occur in digital currency in our country.”

Moreover, he also mentioned that such survey would be helpful for the government.

Andrea Medri, a member of both Bitcoin Foundation Italy and digital currency trading platform The Rock Trading, will be attending both meetings the first event as a spectator and second one as a speaker.

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