Italy: Opened consultation on COSOB Regulation for registration of managers for digital circulation under the FinTech Decree

On 10 July 2023, Italy's Financial Market Authority (Consob), opened a public consultation until 9 August 2023 to develop a regulation for the registration of managers for digital circulation under the FinTech Decree which introduced the digital form for the circulation of certain financial instruments including the possibility of using distributed ledger technologies (DLT) for their issuance and transfer. The proposed regulation regulates the list of register managers that will be kept by Consob and outlines the registration process and requirements to be enlisted as “register managers for digital circulation”.