Banca d’Italia demands checks on every crypto transfer

Banca d’Italia told Italian crypto-asset service providers on Sept. 7 to verify that every transfer passes through sanctions screening, regardless of its value. Summary Every crypto transfer must undergo sanctions screening, regardless of value, under existing European banking guidelines. Banca d’Italia told CASPs to verify screening systems contain no minimum transaction threshold configured internally. Firms must check originator and beneficiary information before executing individual crypto-asset transfers for customers consistently. The screening requirements have applied in Italy since December 30, 2025, rather than starting September. Instant-payment exceptions available to certain payment providers do not cover crypto transfers processed by CASPs. The central bank specifically warned firms against setting a minimum transaction threshold within their screening systems. Such a threshold could allow small crypto transfers to avoid automated checks. The communication does not establish a new sanctions rule. It reinforces requirements already contained in European Banking Authority guidelines that have applied in Italy since Dec. 30, 2025. The reminder follows an expansion of Eur...