EU banking watchdog issues guidance for crypto firms to comply with anti-money laundering requirements
The European Banking Authority (EBA) has issued guidance for crypto firms to comply with anti-money laundering and terrorist-financing requirements. The EBA aims to harmonize the approach that crypto asset service providers (CASP) across the EU should adopt to combat financial crime. The EBA has published guidelines on risk-based supervision of CASPs and is consulting on proposed guidelines to prevent the abuse of crypto transfers. The guidelines will apply from Dec. 30, around the time when the markets in Crypto Assets (MiCA) regulatory package takes full effect. Competent authorities have two months to report whether they comply with the new guidelines.
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