Italy reserves over 46 million euros for companies to set up subsidiaries

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Italy reserves over 46 million euros for companies to set up subsidiaries

Italy reserved more than 46 million for companies that want to set up subsidiaries to research based on a new decree. Companies will be able to apply for the budget from September 21, 2022, either individually or jointly.

Italy's Minister of Economic Development, Giancarlo Giorgetti, stated that this initiative aims to support companies investments in innovative technologies to modernize production systems. He added:

Initiatives that are looking into Artificial Intelligence AI and the Internet of Things IoT will be acceptable.

Any applications on production systems, education, agriculture, environment, infrastructure, tourism, information security, and aerospace can be considered for funding.

Italians have relatively high adoption rates for cryptocurrencies, even though they are not the most embracing nation.

Italy has the 10th country to have the highest adoption of cryptocurrencies among 27 countries, based on numbers from 2021. The most popular coins in the country are Bitcoins, Ripple,Bitcoin Cash andEthereum. Italy was ranked as seventh in the adoption of digital currency, close behind Germany and the U.K., according to a report by Chainalysis.

The country s market watchdog Consob takes over the responsibility of the regulation of cryptocurrencies-assets. In June 2021, Consob said that more than 4,000 criptoassets were in circulation and that the government would have to take measures to mitigate risks. Since then, there has been no announcements of legislation on the topic of criptocurrency.

The county imposed strict penalties on all virtual asset providers in early 2022 to comply with the AML rules and went as far as to block Binance from Italy. Another indicator of Italy's adoption of the digital currency came from Binance, which didn't give up on the Italian market and entered the country with a new registration.

In January 2022, Italy's biggest private bank Banca Generali announced that it will allow its private clients to purchase and hold Bitcoin until the end of 2022. The bank started the technical integrations. The launch is yet to be announced.

Colombia and Korea are two countries that recently invested in the technology of the digital ledger as a nation.

South Korea, like Italy, has set a budget to exploit the potential of the metaverse industry. The budget for $117.1 million will be used to develop a metaverse where Korea can educate its citizens, host prominent minds, collaborate, and create new jobs. The country is aiming to become the biggest metaverse market by 2026, and has already started the first step of its metaverse plan.

Colombia recently announced that it has incorporated a blockchain-based solution into its national systems. The new project can register more than 100,000 contracts with the help of the National Land Agency in Colombia.