7th May 2025
The Financial Intelligence Analysis Unit (FIAU) would like to notify subject persons that the European Banking Authority (EBA) has issued new draft Regulatory Technical Standards (RTS) that define when crypto-asset service providers (CASPs) have to appoint a central contact point.
The provision of services by CASPs established in one EU Member State is permitted in other Member States. In cases where CASPS have a local establishment, such as through a crypto ATM, CASPS are required to comply with both local and home state anti-money laundering and countering the financing of terrorism (AML/CFT) regulations. In such cases, the mitigation of ML/TF risks and the facilitation of effective cross-border AML/CFT supervision are supported by central contact points.
The draft RTS outline the conditions under which CASPS should appoint a central contact point, as well as their roles and responsibilities.
It should be noted that these draft RTS will now be submitted to the Commission for endorsement, following which they will be subject to scrutiny by the European Parliament and the Council before being published in the Official Journal of the European Union, at which point they become legally binding and applicable.
More information, including the draft RTS in mention, may be found on the EBA’s website which may be accessed through the following link.