Regulatory Alerts2024-12-27 | C675CySEC Circular C675: EU Regulation 2023/1113 and EBA Guidelines on Reporting Obligations for Crypto Asset Service Providers
The Cyprus Securities and Exchange Commission (CySEC) informs Crypto Asset Service Providers that EU Regulation 2023/1113 and specific EBA Guidelines regarding the Travel Rule become applicable on 30 December 2024. These regulations require CASPs to implement risk-based procedures for verifying originator and beneficiary information, adapting internal controls to counter money laundering and terrorist financing risks. Furthermore, providers must report to CySEC any repeated failures by counterparties to supply required transfer data and detail the corrective actions taken in response.
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