Banca d’Italia has instructed cryptocurrency service providers to establish internal controls for screening crypto transfers linked to sanctioned entities.
Sanctions screening requirements
The measure requires providers operating under Italy’s financial framework to assess transactions and identify potential links to individuals, organizations or jurisdictions subject to sanctions.
Compliance implications
Crypto service providers will need procedures capable of detecting and reviewing potentially prohibited transfers. The requirement reinforces the role of sanctions compliance and transaction monitoring in Italy’s digital-asset sector.