Italy seeks to ban anonymous digital currencies

Cryptocurrency is of great concern to Italy, so much so that lawmakers in the country have filed a bill that could pave the way towards banning “fully anonymous cryptocurrencies” in the European nation.

Stefano Quintarelli, IT expert and a member of the Italian Parliament, tweeted last week that “in 14 MPs we proposed a bill in Italy to ban fully anonymous cryptocurrencies.”

The announcement coincided with the launch of a new digital currency called Zcash, which promises a “strong focus on anonymity,” making it a strong contender for older and established alternative coins.

Italy isn’t the first country who is not overly keen on the idea of digital currency. The Italian government allows bitcoin use without a specific regulation, but they frown upon other currencies that could gain mainstream popularity, like in the case of Zcash.