Senator Gasparri: banning Bitcoin in Italy

Senator Gasparri: banning Bitcoin in Italy

Banning Bitcoin: this is the proposal of Maurizio Gasparri, an Italian senator. He said this in a tweet posted following a TV report aired on Saturday night on the popular TV show Striscia la Notizia.

Striscia la Notizia is a satirical news programme. Last Saturday a report was aired with the title: Is Bitcoin a good investment? The speaker did not give an answer but explained some of Crypto Bank the factors that move the price of Bitcoin, urging people to beware of other cryptocurrencies that only work as network marketing.

However, for Gasparri there is no doubt: Bitcoins are dangerous and should be banned:

„Bitcoins are absurd stuff, those who use them condemn themselves. They must be banned. I will propose it in the Senate.“

This is his tweet, suggesting that he might introduce a bill to that effect.

His opinion is not new, it had already been expressed another time. In December 2018 he wrote:

„Bitcoin’s value collapses, but look at that… But who trusted ‚this stuff‘? A good lesson for the speculators who attempted profits and the fools who took the bait…“

Can Gasparri succeed in getting bitcoins banned?

Maurizio Gasparri is one of the most prominent politicians on the Italian scene. A former communications minister in Berlusconi’s government of the early 2000s, he is currently group leader of the Forza Italia party in the Senate. What he will be able to do is to present a bill, deposit it in the Senate and wait for the act to run its course.

However, being an opposition member, he will have to find the numbers in the majority to get his proposal passed. But the relative majority of the Italian parliament is held by the 5 Star Movement, which on the other hand always seems to be very attentive to the topic of blockchain and cryptocurrency.

In addition, Italy is currently experiencing a political crisis that could lead to an early end to the legislature with the dissolution of parliament and new elections.

In short, Gasparri’s idea is unlikely to become a real bank at this point in history.

However, there is nothing to exclude that in a future legislature led by the centre-right (of which Forza Italia is a part) this idea could be dusted off and presented. At that point it would be easier for Gasparri to find the numbers to get it approved. But at the moment it is just political fantasy.