Italy is set to increase surveillance of the crypto asset market and impose fines of up to 5 million euros for those who manipulate it. The country's central bank and market watchdog, Consob, will be designated as the relevant authorities. The measures are part of a wider effort to address risks associated with the sector and comply with the European Union's regulatory framework for crypto assets. Despite low levels of crypto ownership in Italy, some companies are optimistic about the market, with Conio partnering with Coinbase to bring digital assets to Italian banks and financial institutions.