Italy’s central bank orders sanctions screening for crypto transfers
Banca d’Italia ordered crypto service providers to implement internal controls to screen for crypto transfers tied to sanctioned entities.
Banca d’Italia ordered crypto service providers to implement internal controls to screen for crypto transfers tied to sanctioned entities.
Italy’s central bank, Banca d’Italia, ordered mandatory sanctions screening for cryptocurrency transfers to help curb illicit flows across the EU.
The bank said that crypto asset service providers (CASPs) must put policies and internal controls in place to enforce EU financial sanctions when processing crypto transfers, according to a Monday announcement.
Cryptocurrencies are increasingly being used by Iranian and Russian entities alike to avoid financial sanctions. The Russian ruble-backed A7A5 stablecoin processed $110 billion in cumulative transactions between February 2025 and May 2026, despite being targeted by Western sanctions, according to blockchain security platform CertiK.