Read the CySEC Circular C675
Memo #55-2024
CySEC Circular No: C675
Date: 27/12/2024
Subject: A. EU Regulation 2023/1113 - Transfer of Funds Regulation, B. EBA Guidelines, C. Reporting Obligations
Purpose: To inform the CASPs that the EU Regulation 2023/1113 will be applicable on the 30/12/2024, EBA Guidelines are adopted and reporting obligations as per the TFR Regulation.
In Summary:
CySEC has issued the Circular C675 on 27/12/2024 to inform the Crypto Asset Service Providers (‘CASPs’) as defined in the Regulation (EU) 2023/1113 (TFR Regulation), in the Regulation (EU) 2023/1114 (MiCA Regulation) and in Article 2A of The Prevention and Suppression of Money Laundering and Terrorist Financing Law (AML/CFT Law) that:
A) the EU Regulation 2023/1113 of the European Parliament and of the Council of 31 May 2023 on information accompanying transfers of funds and certain crypto-assets and amending Directive (EU) 2015/849 (the ‘TFR Regulation’), concerning the implementation of the ‘‘Travel Rule’’ for transfers of crypto-assets, will be applicable on the 30/12/2024.
With regard to the application of Articles 28, 29, 30, 31, 32, 33 and 38 of the TFR Regulation, national legislation is being proposed and adoption is expected.
B) CySEC has decided to adopt the following EBA Guidelines:
a) The ML/TF risk factors Guidelines (EBA/GL/2024/01)
b) The Risk-based AML/CFT supervision Guidelines (ΕΒΑ/GL/2023/07)
c) The Travel Rule Guidelines (EBA/GL/2024/11)
d) The Guidelines on internal policies, procedures and controls to ensure the implementation of Union and national restrictive measures under Regulation (EU) 2023/1113 (EBA/GL/2024/15)
C) Reporting obligations are applicable in line with Articles 17(2) and 21(2) of the TFR Regulation.
Read the CySEC Circular C675
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