Bitcoin and Ethereum ‘Have No Intrinsic Value’, Claims Governor of Italy’s Central Bank

On 9 July 2024, Fabio Panetta, the Governor of the Bank of Italy, addressed the Italian Banking Association Annual Meeting, sharing his critical views on crypto-assets and the regulatory landscape surrounding them. Panetta provided an in-depth analysis of the risks associated with crypto-assets, distinguishing between stablecoins and unbacked crypto-assets and highlighting the implications of the