Bank of Italy Mandates Sanctions Screening for All Crypto Transfers

The Bank of Italy has introduced a new rule requiring all firms moving euros or digital assets in the EU to screen both sides of every transfer against EU and national sanctions lists.

This new requirement goes beyond existing Travel Rule expectations, making sanctions screening for crypto transfers a per-transfer duty for global business crypto banking.

The rule applies to payment service providers (PSPs) and crypto-asset service providers (CASPs), including global businesses using crypto banking platforms with European rails passing through Italian banks.