Italy busts mafia crypto ‘secret bank’ near Milan, seizes $24M
AI summary
Italian police dismantled an underground banking operation near Milan that they say laundered money for 'Ndrangheta and Camorra organized crime figures, moving funds abroad and into crypto. Authorities seized $24 million in the operation, which used a car-rental firm as a front. The bust highlights continued regulatory and law-enforcement scrutiny of crypto's use in illicit finance, a recurring overhang for market sentiment.
