Regulatory AlertsCircular 2/2025 of the National Securities Market Commission amending Circulars 1/2021, 1/2010, and 5/2009
The Spanish National Securities Market Commission (CNMV) issues Circular 2/2025 to extend the supervisory scope of existing reporting regulations to include Crypto-Asset Service Providers (PSCs) and National Financial Advisory Companies (EAFNs). The circular significantly reduces administrative burdens for existing Investment Service Entities (ISEs) by simplifying reporting models and frequencies, while introducing new specific reports for anti-money laundering compliance and crypto-asset activities. It also establishes detailed pre-defined reporting templates for PSCs to ensure readiness for future mandatory information requests under the Markets in Crypto-Assets Regulation.
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