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European Union: Announced AML/CFT rules introducing obligations for crypto-asset service providers

Policy overview

Description

Announced AML/CFT rules introducing obligations for crypto-asset service providers

The European Commission announced a legislative package in the area of anti-money laundering (AML) and countering the financing of terrorism (CFT) on 20 July 2021. In general, the package consists of a new regulating authority (EU AML/CFT Authority …

Scope

Policy Area
Consumer protection
Policy Instrument
User identification requirement
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Implementation Level
supranational
Government Branch
executive
Government Body
central government

Complete timeline of this policy change

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2021-07-20
under deliberation

The European Commission announced a legislative package in the area of anti-money laundering (AML) …

2021-07-22
in consultation

The European Commission opened a consultation on the legislative package in the area of anti-money …

2021-11-28
processing consultation

The European Commission closed a consultation on the legislative package in the area of anti-money …

2022-03-31
under deliberation

On 31 March 2022, the European Parliament Committee on Economic and Monetary Affairs (ECON) and the…

2022-06-29
under deliberation

On 29 June 2022, the European Parliament and the Council reached a provisional agreement on the pro…

2023-04-20
under deliberation

On 20 April 2023, the European Parliament passed the Regulation on information accompanying transfe…

2023-05-16
adopted

On 16 May 2023, the Council of the European Union adopted the Regulation on information accompanyin…

2023-06-29
in grace period

On 29 June 2023, the Regulation on information accompanying transfers of funds and certain crypto-a…

2024-12-30
in force

On 30 December 2024, the Regulation on information accompanying transfers of funds and certain cryp…