The FIAU would like to inform subject persons and other interested parties that the EU’s Authority for Anti-Money Laundering and Countering the Financing of Terrorism (AMLA) has published an advisory note on the money laundering and terrorist financing (ML/TF) risks associated with the end of the transitional period under the Markets in Crypto-Assets Regulation (MiCAR).
The transitional period will end on the 1st of July 2026. Following this date, firms will be required to obtain authorisation as MiCAR-compliant crypto-asset service providers (CASPs) in order to continue providing crypto-asset services within the European Union.
In its advisory note, AMLA highlights the ML/TF risks that may arise following the conclusion of this transitional period and outlines mitigating measures that may be adopted by unauthorised virtual asset service providers (VASPs) and authorised CASPs, AML/CFT supervisors, and financial intelligence units (FIUs). These measures are intended to support the application of a risk-based approach and contribute to safeguarding the integrity of the EU financial system.
The end of the transitional period is expected to result in significant structural changes within the EU crypto-asset sector, as unauthorised VASPs exit the market and customer relationships previously maintained with such providers are either terminated or transferred to a smaller number of authorised CASPs. AMLA emphasises that where customers migrate from unauthorised VASPs to authorised EU CASPs, the latter should conduct appropriate individual risk assessments and apply proportionate customer due diligence measures in line with the risk-based approach, rather than adopt blanket de-risking practices.
For further information subject persons and other interested parties may access the full advisory note through AMLA’s website or from the FIAU’s website under the tab “AMLA”.