Italian Central Bank: No AML Requirement for Bitcoin Exchanges


Hmm interesting, found this article on CoinDesk.

Digital currency exchanges in Italy are not required to enforce anti-money laundering policies, according to the country’s central bank.

Banca d’Italia issued three notices on 30th January advising financial institutions not to hold or deal in digital currencies in the absence of a regulatory regime.

However, one of the notices, from the bank’s Financial Intelligence Unit, clarified that businesses dealing in the exchange of digital and fiat currencies are not required to comply with anti-money laundering rules.

“The use, exchange and storage of digital currencies and their conversion to legal currencies are not addressed by the money-laundering legislation and therefore are not required to comply with requirements of customer data recording and reporting of suspicious transactions,” the notice says.

However, the bank did strongly encourage firms dealing in digital currency exchange to voluntarily apply AML rules.

Click the link above to check out the full story.

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Is there still a big mafia element to Italian society? If so, this isn’t that much of a surprise lol :slight_smile:


Except in Sicily & Calabria :wink:


Yeah pretty much :laughing:


It will be very interesting to see how will EU Commission respond to very diverse interpretations of Bitcoin regulations throughout different countries in EU. For example, Germany already interprets Bitcoin as monetary unit and requires strict regulations whereas some other countries doesn’t even care about it … EU did quite good at connecting EU members through SEPA payment system, will see if it will also do anything good in the Bitcoin space.