EBA publishes report on tackling ML/TF risks in crypto-asset services

The European Banking Authority (EBA) has published a report addressing money laundering and terrorist financing (ML/TF) risks in crypto-asset services, including issuance, trading and service provision. Drawing on lessons from recent supervisory cases across the EU and engagement with national supervisors, the report identifies vulnerabilities in the sector and offers guidance to strengthen compliance and oversight. It examines strategies used by certain crypto-asset service providers and issuers to side-step national AML/CFT supervision, including through unauthorised operations, forum shopping and improper use of certain regulatory exemptions. The report also outlines safeguards introduced by MiCAR and the AML/CFT regime, stating that effective implementation will depend on proactive monitoring of unauthorised activities, continuous risk identification and strong cross-border cooperation, amongst others.

Return to main website.