🚨 Bank of Italy vs. Bitcoin: Who Wins? 🚨
- While many large institutions are starting to look at Bitcoin as an asset of the future, the Bank of Italy has instead labeled Bitcoin's P2P services "crime-as-a-service." How come? 🤔
- In its latest report, the bank criticized P2P services that are considered to facilitate money laundering in regions with weak regulations. Oops, Bitcoin gets the short end of the stick!
- The bank highlights regulatory loopholes that criminals exploit to hide illegal funds. KYC and AML? Oh, that's it!
- But don't worry, there are solutions like Zero-Knowledge Proofs that can help prevent illegal activities without sacrificing privacy. However, the Bank of Italy says this is not enough.
- So, in your opinion, will Bitcoin remain the prima donna or will it become the scapegoat? Let's discuss in the comments column! 🗨️