Banca d’Italia Mandates Sanctions Screening for Crypto Transfers

The Italian central bank, Banca d’Italia, has issued a directive requiring crypto-asset service providers (CASPs) to implement mandatory screening for all cryptocurrency transfers to identify links to sanctioned entities. CASPs are now required to establish internal policies and controls to ensure compliance with European Union financial sanctions. The central bank emphasized that providers must maintain rigorous procedures to verify both customers and transactions against sanctions lists.