Regulatory Alerts2024-04-26 | C640CySEC Circular C640: EBA Guidelines on ML/TF Risk Factors for Crypto-Asset Service Providers
The Cyprus Securities and Exchange Commission issued Circular C640 to alert regulated entities to the European Banking Authority's new guidelines extending money laundering and terrorist financing risk assessments to crypto-asset service providers. These guidelines require CASPs to identify specific risk factors related to customers, products, and geography while implementing mitigating measures such as blockchain analytics tools. The circular mandates that all regulated entities comply with these standards by December 30, 2024, to ensure their anti-money laundering policies effectively address identified risks.
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