Cryptocurrency analysis by Binance Italia CEO

2024 has been a crucial year for the cryptocurrency sector, and Gianluigi, CEO of Binance Italia, has provided us with an interesting analysis of the most important events that have characterized the industry, both globally and in Italy. In this exclusive interview with Cryptonomist, we discussed the challenges and opportunities facing the market, and also explored Binance’s initiatives in our country.

The most important events of 2024

Among the most significant events, Binance CEO cited the approval of ETFs in the US as a turning point for the sector. This tool has already allowed a greater approach for institutional investors to the world of cryptocurrencies, creating a bridge between traditional finance and the fintech sector.

“ETFs represent an opportunity for those who are not crypto experts to enter the market without purchasing digital assets directly.”

Gianluigi explained.

Another historic event was the Bitcoin halving, a moment that usually marks the beginning of a new bull market cycle. This, coupled with Bitcoin crossing the $100,000 symbolic threshold, cemented 2024 as a historic year for the sector.

On the political level, the US elections represented an additional important element.

“President Trump’s positive stance towards cryptocurrencies has changed the position of many influential players.”

He added, also emphasizing the increasing role of figures like Elon Musk in shaping the bull and bear market narrative.

Italy and the tax debate

In Italy, taxation of cryptocurrencies has been a hot topic. The proposal to increase capital gains tax from 26% to 42% has raised major concerns among industry operators. However, the government took a step back, keeping taxes at 26% and removing the €2,000 exemption limit. Gianluigi expressed optimism that the government may adopt a more appropriate approach to this sector in the future, stressing the importance of avoiding measures that could stifle innovation.

Binance Italia: successes and initiatives

2024 was a year of successes for Binance on a global and local level.

“We have consolidated our position as a leader among exchanges, with cumulative trading volume reaching over 100,000 billion.”

The CEO stated. In Italy, Binance has placed a strong focus on community, organizing events in Rimini and at universities to bring young people closer to the world of CryptoValue.

Another important milestone is the exceeding of EUR 1 billion in deposits held by Binance Italy, demonstrating the growing confidence of Italian users in exchange. The Italian compliance team has also been strengthened, demonstrating Binance’s commitment to complying with regulations.

Organization and future prospects

2024 also saw the entry into force of the European MiCA Regulation, a unique worldwide regulation to harmonize rules between different EU Member States. Gianluigi praised the move, describing it as “essential to provide a clear regulatory environment and strengthen the business.” However, he stressed the need to strike a balance between regulation and innovation, and avoid rules that could hinder technological development.

Looking ahead to 2025, the CEO expects increasing integration between the world of cryptocurrencies 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 technology and artificial intelligence, which are considered pillars of future innovation.

Challenges and opportunities according to Binance

The meme currency phenomenon, which exploded in 2024, is a controversial topic. Although Gianluigi acknowledges the potential to attract new users to the sector, he urged caution:

“It is important to conduct thorough research and not invest too much, especially in projects that may have fragile foundations.”

Finally, the CEO highlighted how the market is maturing, with a greater focus on tangible uses of blockchain technologies, such as the digitization of ownership through NFTs.

“2025 looks set to be an exciting year, with many opportunities for those who know how to seize them.”

conclude.