EBA launches public consultation on Regulatory Technical Standards for crypto-asset service providers

Τhe European Banking Authority (EBA) has launched a public consultation on draft Regulatory Technical Standards (RTS) specifying the criteria according to which crypto-asset service providers (CASPs) should appoint a central contact point to ensure compliance with local anti-money laundering and countering the financing of terrorism (AML/CFT) obligations of the host member state.

A first version of such regulatory standards was published in the Official Journal of the EU in 2018. Since their scope was limited to PSPs and EMIs, the co-legislator amended Article 45(9) 2 of Directive (EU) 2015/849 on 9/6/2023, to extend it to CASPs.

The EBA decided to update and amend the Commission Delegated Regulation (EU) 2018/1108 in this regard. CASPs can provide services in other member states through establishments other than branches. Once established, CASPs have to comply with local AML/CFT obligations, even if their establishments are not ‘obliged entities’ themselves.

“The draft RTS sets out the criteria for determining the circumstances in which the appointment of a central contact point is appropriate, as well as the functions of those central contact points,” the Cyprus Securities and Exchange Commission (CySEC) explained in a press release signed by Chairman Dr George Theocharides.

Comments to the consultation paper can be sent by clicking on the ‘Submit response’ button on the EBA's consultation page. The deadline for the submission of comments is 4 February 2025. All contributions received will be published by the EBA following the end of the consultation, unless requested otherwise.

“The CySEC encourages the Regulated Entities to respond to the said consultation paper,” Theocharides concluded.