🤌 Italy🇮🇹: Central Bank to screen crypto for sanctions status

🤌 Italy🇮🇹: Central Bank to screen crypto for sanctions status

Banca d'Italia seeks to curb the inflow of illicit crypto assets into the EU.

➡️ Under the Central Bank's directive, crypto-asset service providers (CASPs) must implement policies and internal procedures to monitor cryptocurrency transfers in order to ensure compliance with EU sanctions. The main focus is on Russia🇷🇺 and Iran🇮🇷.

➡️ The Central Bank of Iran eased foreign-exchange controls, allowing exporters to finance imports using overseas earnings without selling foreign currency, including USDT and bitcoin, at the official exchange rate. In July, the U.S. Treasury Department🇺🇸 ordered the freezing of more than USD 130 million in crypto wallets linked to Iran's central bank.

➡️ In Russia, between February 2025 and May 2026, transactions totaling USD 110 billion were processed through the ruble-backed stablecoin A7A5. However, as sanctions requirements become stricter, Russia's regulated crypto market risks becoming a marked-crypto market, significantly reducing its potential as an instrument for foreign trade settlements. At the same time, smaller crypto actors that could potentially evade sanctions screening are being actively targeted by Russia's own security authorities.

#news #Russia #USA #Asia #Europe #crypto #sanctions

🎭 From local bank transfers to Apple Pay worldwide: payment solutions for high-risk sectors at PayPlanet @pay_planet