EU banking watchdog extends anti-money laundering measures to crypto-asset companies | CoinDesk JAPAN

On the 16th, the European Banking Authority (EBA) of the European Union (EU) published guidelines requiring crypto-asset (virtual currency) companies to comply with anti-money laundering and anti-terrorist financing requirements.

Extending the scope of existing measures to crypto assets will “harmonize the approach” that crypto asset service providers (CASPs) across the EU should adopt to combat financial crime, the EBA said in a statement.

“The risk of this happening may be increased by, for example, the speed of transfers of crypto assets or the fact that some products include features that hide users’ identities,” the EBA said. It is important to recognize this and take appropriate measures to effectively mitigate it.”

Last year, the EU finalized legislation on the transfer of funds via digital assets, alongside the landmark Cryptocurrency Market Regulation (MiCA) package. The EBA subsequently published guidelines on risk-based supervision of CASPs and consulted on draft guidelines to prevent abuse of crypto-asset transfers in line with the recommendations of global watchdog Financial Action Task Force (FATF). ing. It is also discussing further guidance on internal policies and controls that CASP should have.

“Given the interdependence of the financial sector, the new guidelines also include guidance for other credit institutions and financial institutions that have CASP clients or have exposure to crypto assets,” the EBA said. Stated.

Competent authorities will have to report whether they have complied with the new guidelines within two months of publication of the guidelines translated into the EU’s official languages. The guidelines will apply from December 30th, when MiCA becomes fully effective.

｜Translation and editing: Rinan Hayashi
｜Image: Christian Lue/Unsplash
｜Original text: EU Banking Watchdog Extends Anti-Money Laundering Measures to Cover Crypto Firms