PANews reported on December 25 that according to The Crypto Basic, a recent report published by the Italian central bank classified Bitcoin P2P as "crime as a service", criticizing its anonymous nature, pointing out that it could facilitate illegal activities such as money laundering.
However, according to the report, Bitcoin’s P2P services are not inherently criminal in nature. Nonetheless, the authors argue that its privacy features provide opportunities for exploitation by those seeking to conceal illegal financial activities. The Bank of Italy notes that these platforms are particularly vulnerable to abuse in regions with weak anti-money laundering (AML) regulation, such as certain countries identified as high risk by the Financial Action Task Force (FATF).
The report also points out that the decentralized finance (DeFi) sector poses more challenges for regulatory oversight. Without intermediaries to enforce anti-money laundering compliance, DeFi platforms may be used for illegal purposes. The report states that DeFi lacks centralized control, making traditional regulatory measures difficult to implement, and new approaches are needed to ensure compliance and prevent misuse.
