{"id":33690,"date":"2024-07-06T09:51:07","date_gmt":"2024-07-06T09:51:07","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/new-eu-guidelines-for-crypto-anti-money-laundering\/"},"modified":"2024-07-06T09:51:07","modified_gmt":"2024-07-06T09:51:07","slug":"new-eu-guidelines-for-crypto-anti-money-laundering","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/new-eu-guidelines-for-crypto-anti-money-laundering\/","title":{"rendered":"New EU Guidelines for Crypto Anti-Money Laundering"},"content":{"rendered":"<p><b>(Originally posted on : Crypto News &#8211; iGaming.org )<\/b><br \/>\n<\/p>\n<div>\n<p>The European Banking Authority (EBA) has announced new guidelines to enhance Anti-Money Laundering (AML) measures for crypto-asset service providers (CASPs) and their intermediaries in the European Union. These guidelines extend the Travel Rule to crypto transactions, requiring detailed reporting on fund and crypto asset transfers.<\/p>\n<p>Starting December 30, 2024, the regulation (EU) 2023\/1113, known as the Travel Rule guidelines, will apply to CASPs, as outlined in the EU\u2019s Markets in Crypto-Assets Regulation (MiCA). This change subjects crypto service providers to the same AML and Counter-Terrorist Financing (CFT) regulations as traditional financial institutions.<\/p>\n<p>After the December deadline, there will be a two-month grace period for payment service providers (PSPs), intermediary PSPs, CASPs, and intermediary CASPs to comply. They must collect user information for all transfers, identify service-related transactions, and detect suspicious transfers.<\/p>\n<p>Crypto service providers will also need to establish clear policies on transactions involving multiple intermediaries and cross-border transfers. Although compliance might impose financial pressure on crypto exchanges, the EBA believes the benefits will outweigh the costs by enhancing the fight against money laundering and terrorist financing.<\/p>\n<p>The anonymity of crypto transactions has made them attractive for illicit activities. By enforcing these new guidelines, the EBA aims to increase transparency and reduce the risk of such activities.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\"> <strong><strong>250% Extra + $125 Free Chip!<\/strong><\/strong> <\/p>\n<p>New players only. 250% on 1st Deposit + $125 Free Chip<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>CASPs already subject to the EU\u2019s Anti-Money Laundering Directive (AMLD) or domestic AML\/CFT regimes will continue under those regulations. The new guidelines simply broaden the scope to include the growing crypto market in the EU.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/igaming.org\/crypto\/new-eu-guidelines-for-crypto-anti-money-laundering\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Crypto News &#8211; iGaming.org ) The European Banking Authority (EBA) has announced new guidelines to enhance Anti-Money Laundering (AML) measures for crypto-asset service providers (CASPs) and their intermediaries in the European Union. These guidelines extend the Travel Rule to crypto transactions, requiring detailed reporting on fund and crypto asset transfers. Starting [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":33691,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/33690"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=33690"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/33690\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/33691"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=33690"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=33690"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=33690"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}