The Bank of Italy describes Bitcoin P2P as “crime as a service” and believes it may be used to facilitate illegal activities such as money laundering

In its latest economic and financial research report, the Bank of Italy expressed concerns about Bitcoin's peer-to-peer (P2P) system, calling it a potential "Crime-as-a-Service" platform. The report highlights the anonymity of Bitcoin transactions, arguing that it could help facilitate illegal activities such as money laundering. The report points out that Bitcoin's P2P services are not inherently criminal in nature. Nevertheless, its privacy features provide opportunities for those who seek to conceal illegal financial activities to exploit it. The Bank of Italy noted that these platforms are particularly vulnerable to abuse in areas where anti-money laundering (AML) regulation is weak, such as certain countries identified as high risk by the Financial Action Task Force (FATF). The report also pointed out that the DeFi field poses additional challenges to regulatory supervision. Without intermediaries to enforce anti-money laundering compliance, DeFi platforms may be used for illegal purposes. It believes that DeFi lacks centralized control and is difficult to implement traditional regulatory measures, so new approaches are needed to ensure compliance and prevent abuse. (The Crypto Basic)