In a bid to enhance anti-money laundering (AML) and combat the financing of terrorism (CFT) standards within the crypto industry, the European Banking Authority (EBA) has initiated a public consultation on proposed guidelines. Meanwhile, released on November 24, these guidelines aim to address the evolving challenges faced by crypto-asset service providers (CASPs) and payment service providers (PSPs) in complying with AML/CFT regulations.
Notably, the EBA’s move underscores the need for a comprehensive regulatory framework in the rapidly evolving crypto landscape.
EBA Seeks Stricter AML/CFT Compliance from Crypto Providers
According to a recent report, the European Banking Authority (EBA) has identified gaps in the current regulatory framework governing AML/CFT standards compliance among crypto providers. Considering that, they have proposed new guidelines, open for public consultation until February 26, 2024, which specifically target CASPs and PSPs.
Notably, the EBA suggests mergin
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