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EBA Strengthens Anti-Money Laundering Oversight:Extends Guidelines to Crypto-Asset Service Providers

Updated: Dec 1, 2023

The European Banking Authority (EBA) has taken a significant stride in the fight against financial crime by extending its risk-based Anti-Money Laundering and Counter Financing of Terrorism (AML/CFT) supervision guidelines to include supervisors of crypto-asset service providers (CASPs). This move recognizes the evolving landscape of digital assets and aims to establish a cohesive approach to addressing money laundering and terrorist financing risks associated with CASPs.

EBA Strengthens Anti-Money Laundering Oversight:Extends Guidelines to Crypto-Asset Service Providers

The EBA's guidelines provide a comprehensive framework, outlining the steps supervisors should take to identify and effectively manage AML/CFT risks within the crypto-asset sector. Given the cross-border nature of CASPs, the EBA emphasizes the importance of a unified supervisory approach to ensure consistency and effectiveness in tackling potential risks.


Highlighting the high risks associated with CASPs, the EBA underscores the need for a common understanding and approach across all European Union (EU) member states. The amendments not only address the sources of information that competent authorities should consider when assessing AML/CFT risks linked to CASPs but also stress the critical role of training for competent authority staff. This training is seen as essential to equip personnel with the technical skills and expertise necessary to carry out their supervisory roles effectively.

The EBA's extension of AML/CFT Supervision Guidelines is part of a broader effort to implement a risk-based approach in supervising CASPs, fostering consistency and cooperation among EU member states. The upcoming amendments to the EBA's ML/TF Risk Factors Guidelines and the introduction of new guidelines to prevent the abuse of fund and crypto-asset transfers for AML/CFT purposes further underscore the authority's commitment to adapting regulatory frameworks to the dynamic nature of the financial landscape, particularly in the realm of crypto-assets.



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