Regulatory Alerts2023-11-28 | C605CySEC Circular C605: EBA Consultation on Guidelines for Preventing Abuse of Funds and Crypto-Asset Transfers
The Cyprus Securities and Exchange Commission issued Circular C605 to inform regulated entities of the European Banking Authority's public consultation on new anti-money laundering guidelines for crypto-asset service providers. The proposed guidelines establish common procedures for detecting and managing transfers of funds and crypto-assets that lack required originator or beneficiary information to ensure consistent application of the EU Travel Rule. Regulated entities are encouraged to submit comments by 26 February 2024 and may register for a virtual public hearing scheduled for 17 January 2024.
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