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Italy Characterized Bitcoin as a Criminal Service: Should be More Strictly Regulated! - Coin Bulletin
The Bank of Italy has classified Bitcoin's peer-to-peer (P2P) services as a 'Crime-Service' due to money laundering suspicions.
The Central Bank of Italy (Banca d’Italia), in its published Economic and Financial Research Report number 893, classified Bitcoin's peer-to-peer (P2P) services as a 'Criminal Service'.
The bank stated that it has concerns that these services are generally associated with money laundering activities.
The report emphasizes that decentralized cryptocurrencies like Bitcoin allow users to transact anonymously, which could be exploited by criminals for illegal activities.
The bank emphasized that Bitcoin P2P platforms have become a frequently preferred tool to evade regulatory controls.
Money Laundering Concerns
Please provide the source language text to be translated. The bank indicated that P2P services, especially through cryptocurrencies that provide anonymity such as Bitcoin, offer the opportunity for criminals to carry out illegal activities such as money laundering. Please provide text to be translated Therefore, it was emphasized that Bitcoin P2P platforms need to be more tightly regulated by regulatory authorities.
This announcement seems to create more debate about the regulation of Bitcoin and other cryptocurrencies. Investors continue to carefully monitor the impact of such regulatory statements on the markets.