The Bank of Italy has raised concerns about the potential risks posed by the rapid growth of cryptocurrency, particularly its impact on investors and financial stability. Their April 2025 Financial Stability Report highlights crypto volatility and increased integration with the broader economy as key factors for concern. The report identifies stablecoins and the crypto exposure of non-financial firms as significant risks. It notes that the volatile prices of digital assets like Bitcoin pose risks not only to investors but also potentially threaten financial stability due to the growing interconnections between the cryptocurrency ecosystem, traditional financial markets, and real-world economic activity.