The Bank of Italy describes Bitcoin P2P as 'Crime-as-a-Service', suggesting it may be used to facilitate illegal activities such as money laundering.

The Bank of Italy expressed concerns about the peer-to-peer (P2P) system of Bitcoin in its latest economic and financial research report, calling it a potential 'Crime-as-a-Service' platform. The report emphasized the anonymity of Bitcoin transactions, suggesting that this could facilitate illegal activities such as money laundering.

The report noted that the P2P service of Bitcoin is not inherently criminal in nature. Nevertheless, its privacy features provide opportunities for those attempting to conceal illegal financial activities to exploit it.
The Bank of Italy pointed out that in areas with weak anti-money laundering (AML) regulation, such as certain countries identified as high risk by the Financial Action Task Force (FATF), these platforms are particularly susceptible to abuse.
The report also highlighted that the DeFi sector poses additional challenges for regulatory oversight. Without intermediaries to enforce anti-money laundering compliance, DeFi platforms could be exploited for illegal purposes. It noted that the lack of centralized control in DeFi makes it difficult to implement traditional regulatory measures, thus new approaches are necessary to ensure compliance and prevent abuse. (The Crypto Basic)