Regulator requires effective systems to detect sanctioned clients and transactions
The Bank of Italy has ordered supervised companies to strengthen monitoring of cryptoasset transactions to comply with EU restrictions. Special attention is directed toward identifying sanctioned individuals and transactions. This was reported by Minfin citing CertiK, according to the portal PromPolitInform.
Financial and cryptocurrency institutions in the country must implement robust verification mechanisms to uncover transactions linked to individuals targeted by European Union restrictive measures. The new regulations cover virtual asset transfers and require the application of guidelines issued by the European Banking Authority.
The need for additional measures is driven by the active spread of digital coins that could potentially be used to bypass international bans. Regulatory authorities are focusing primarily on stablecoins issued by sanctioned entities.
Transaction Volumes Involving Stablecoins
A striking example of such instruments is the Russian ruble-backed stablecoin A7A5, which has drawn the attention of industry experts. Analytical firm CertiK recorded that since its launch in January 2025, the total transaction volume processed through this asset has exceeded 110 billion dollars.
The issuer of the specified token, the bank securing the reserves, and the relevant trading platform are already subject to restrictive measures imposed by various Western jurisdictions. Such precedents compel European regulators to close potential loopholes for capital movement.
Requirements for Service Providers
Italian cryptoasset service providers were already subject to anti-money laundering compliance requirements. Current European rules also mandate the transmission of sender and recipient data for crypto transfers.
For industry representatives, this means further tightening of compliance procedures and the need to upgrade software systems for risk monitoring. Exchanges and platforms are forced to scrutinize operations involving assets linked to sanctioned jurisdictions or persons.
Photo: Minfin
