Italian Police Uncover €110M Mafia Banking Scheme Using Crypto

Italian police dismantled an alleged mafia-run underground bank operating behind a car-rental business near Milan, which processed over €110 million in fake invoices and moved roughly €68 million abroad through banks and cryptocurrency. The investigation produced 30 court-ordered restrictions and about €21 million in seized assets. The case reinforces regulatory narratives tying crypto to money laundering, a theme that can invite tighter scrutiny and compliance costs for exchanges and payment channels in Europe.