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The year 2024 was a crucial one for the cryptocurrency sector, and Gianluigi, CEO of Binance Italia, offered us an interesting analysis of the most significant events that marked the industry, both globally and in Italy. In this exclusive interview for Cryptonomist, we discussed the challenges and opportunities that the market faced, also exploring Binance’s initiatives in our country.
The key events of 2024
Among the most significant events, the CEO of Binance mentioned the approval of ETFs in the United States as a turning point for the sector. This instrument has indeed allowed a greater approach of institutional investors to the world of cryptocurrencies, creating a bridge between traditional finance and the fintech sector.
“ETFs are an opportunity for those who are not experts in cryptocurrencies to enter the market without directly purchasing digital assets,”
explained Gianluigi.
Another epochal event was the Bitcoin halving, a moment that usually marks the beginning of a new bull market cycle. This, along with surpassing the symbolic threshold of 100,000 dollars by Bitcoin, has solidified 2024 as a historic year for the sector.
On the political front, the American elections have represented an additional element of significance.
“The favorable position of President Trump towards cryptocurrencies has changed the attitude of many influential players,”
he added, also emphasizing the growing role of figures like Elon Musk in shaping the bull and bear market narrative.
Italy and the debate on taxation
In Italy, the topic of cryptocurrency taxation has been a hot topic. The proposal to increase the capital gains tax from 26% to 42% has raised significant concerns among industry operators. However, the government has taken a step back, keeping the taxation at 26% and removing the 2,000 euro exemption threshold. Gianluigi expressed optimism that the government might adopt a more favorable approach to the sector in the future, emphasizing the importance of avoiding measures that could stifle innovation.
Binance Italia: successes and initiatives
The 2024 was a year of successes for Binance at a global and local level.
“We have consolidated our position as a leader among exchanges, reaching a cumulative trading volume exceeding 100,000 billion,”
stated the CEO. In Italy, Binance has focused heavily on the community, organizing events in Rimini and at universities to bring young people closer to the world of criptovalute.
Another important milestone was surpassing 1 billion euros in deposits held by Binance Italy, demonstrating the growing trust of Italian users in the exchange. The Italian compliance team has also been strengthened, showing Binance’s commitment to adhering to regulations.
Regulation and future prospects
The year 2024 also saw the entry into force of the European MiCA regulation, a unique regulation worldwide to harmonize the rules among the various member states of the European Union. Gianluigi praised this step, calling it “fundamental to provide a clear regulatory environment and promote business.” However, he emphasized the need to balance regulation and innovation, avoiding rules that could hinder technological development.
Looking to 2025, the CEO anticipates a growing integration between the crypto world and traditional markets, facilitated by ETFs and the interest of some countries, such as the United States, in adopting Bitcoin as a national reserve. Other emerging trends include the intersection between blockchain and artificial intelligence, considered the pillars of future innovation.
Challenges and opportunities according to Binance
The phenomenon of meme coins, which exploded in 2024, represents a controversial topic. Although Gianluigi acknowledges their potential to attract new users to the sector, he has urged caution:
“It is important to conduct thorough research and not invest more than necessary, especially in projects that might have shaky foundations.”
Finally, the CEO highlighted how the market is maturing, with a greater focus on concrete uses of blockchain technologies, such as the digitization of ownership through NFTs.
“2025 is shaping up to be an exciting year, with many opportunities for those who know how to seize them,”
he concluded.
English (US) ·