Italian Government to Provide €45m in Grants for Blockchain Industry

The Ministry of Economic Development of Italy is planning Up to $46 Million in subsidies to assist with the development of projects related to artificial intelligence Blockchain Internet of Things technologies, beginning in mid-to late September

It is expected that the new policy will improve research and innovation capabilities within industries. Giancarlo Giorgetti Minister of Economic Development stated, “The challenge of competitiveness demands constant innovation.”

The initial budget for the project is currently 45 million euros (or 46 million). According to the Italian government, both public and private research centres can apply jointly for relevant subsidies provided that they are in compliance with relevant conditions.

The decree allows companies to apply for the subsidy if they are involved in manufacturing, education, health, infrastructure, culture, tourism, logistics, information security and the Internet of Things.

They will be eligible for grants not less than 500,000 Euros and not more that 2 million Euros.

The European Central Bank warned national authorities in the Euro area about anyone who deals with the crypto ecosystem. The Market for Crypto Assets (MiCA) is a comprehensive cryptocurrency framework that has been agreed upon by the European Commission, Parliament and Council.

Italy will, as a member, establish a single EU-wide crypto-asset service provider and issuers regime. This will provide investors with security, support sustainability, reducing fragmentation, and increasing legal transparency.

The Bank of England is Britain’s top bank. Through the Prudential Regulation Authority, (PRA), it seeks to raise up to 321 million pounds ($419million) from the commercial banks it regulates. This is in order to strengthen its regulatory efforts in digital currency.


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