• About Us
  • Careers
  • Contact
No Result
View All Result
Saturday, July 12, 2025
DeFi Planet
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Markets
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverses
    • Glossary
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Markets
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverses
    • Glossary
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer
No Result
View All Result
DeFi Planet
No Result
View All Result
Home News

New EU Guidelines Mandate Crypto Exchanges to Comply with AML Reporting by December 2024

5 July 2024
in News, Regulation
Reading Time: 3 mins read
104 5
New EU Guidelines Mandate Crypto Exchanges to Comply with AML Reporting by December 2024

source: clearyantitrustwatch.com

In a significant move to bolster Anti-Money Laundering (AML) efforts, the European Banking Authority (EBA) has announced the expansion of Travel Rules guidelines to encompass crypto service providers and their intermediaries.

Starting from December 30, crypto exchanges operating within the European Union (EU) will be obligated to comply with Regulation (EU) 2023/1113 (Travel Rule Guidelines), which mandates the reporting of information on fund and crypto asset transfers. Notably, crypto-asset service providers (CASPs), as defined in the Markets in Crypto-Assets (MiCA) regulations, will be brought within the scope of the EU’s Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT) framework. 

On the other end, crypto exchanges and service providers already subject to the EU’s Anti-Money Laundering Directive (AMLD) or domestic AML/CFT regimes will continue to adhere to the relevant AML/CFT requirements

Once the regulation comes into effect, payment service providers (PSPs), intermediary PSPs, CASPs, and intermediary CASPs will have a two-month grace period to align with the new requirements.  

“The deadline for competent authorities to report whether they comply with the Guidelines will be two months after the publication of the translations,”

the agency’s statement read.

 

Some of the key provisions of these Travel Rule Guidelines include collecting user information for fund or crypto-asset transfers, identifying transactions linked to the purchase of services and detecting suspicious transfer patterns. Additionally, crypto service providers and intermediaries must declare their policies on multi-intermediation and cross-border transfers. 

RELATED: Uphold to Cease Support for Six Major Stablecoins Ahead of MiCA Implementation

While the EBA acknowledges that complying with these guidelines may impose financial strain on crypto exchanges and service providers, it emphasizes the anticipated long-term benefits.

“Overall, the benefits from these Guidelines are expected to outweigh potential costs, and these Guidelines are expected to contribute to making the fight against ML/TF more effective,”

the agency noted.

Meanwhile, this regulatory expansion aligns with the EBA’s objective of harmonizing AML efforts across digital assets. The agency had earlier announced in January 2024 that by extending the scope of existing regulations to include digital assets, the EBA aims to “harmonize the approach,” requiring cryptocurrency asset service providers (CASPs) throughout the European Union to combat various forms of financial crime. 

 

If you want to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.

“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”

 

Don't miss out!

Subscribe To Our Newsletter

Receive top education news, lesson ideas, teaching tips and more!
Invalid email address
Give it a try. You can unsubscribe at any time.
Thanks for subscribing!
Tags: AMLCryptoEBAEU
Share64Tweet40Share11
Jewel Buddy

Jewel Buddy

Buddy Jewel is a finance writer specializing in cryptocurrency news. With a keen eye on the latest developments in the digital asset space, I provides insightful and timely updates on the ever-evolving world of crypto.

Related Posts

source: dlnews.com
Crime

GMX Hacker Begins Returning $40M Stolen in DeFi Exploit After Accepting $5M Bounty

11 July 2025
source: ft.com
Crypto

Shanghai Explores Yuan-Backed Stablecoin Amid China’s Crypto Ban Shift

11 July 2025
source: finbold.com
Ethereum

BTCT Establishes $1M Ethereum Reserve in Strategic DeFi Shift

11 July 2025
source: forbes.com
Crime

Crypto Wallets Drained in Sophisticated Scam Posing as AI and Web3 Startups

11 July 2025

Featured Posts

Is Code Law? The Legal and Moral Implications of Smart Contracts

Is Code Law? The Legal and Moral Implications of Smart Contracts

byFaari Labinjo
24 June 2025
0

Multi-Party Computation (MPC) vs. Zero-Knowledge Proofs (ZKPs): Which is the Future of Blockchain Privacy?

Multi-Party Computation (MPC) vs. Zero-Knowledge Proofs (ZKPs): Which is the Future of Blockchain Privacy?

byFaari Labinjo
7 June 2025
0

Address Poisoning Attacks in Crypto: What They Are and How to Stay Safe

Address Poisoning Attacks in Crypto: What They Are and How to Stay Safe

byOlayinka Sodiq
3 June 2025
0

What Is a Bull Trap?

What Is a Bull Trap?

byOlajumoke Oyaleke
3 June 2025
0

Breaking Bitcoin’s 21M Limit: Is It Even Possible?

Breaking Bitcoin’s 21M Limit: Is It Even Possible?

byOlayinka Sodiq
3 June 2025
0

Read More

Chain of Thoughts

The Game-changing Triumvirate: Blockchain, Data Science, and Artificial Intelligence

The Game-changing Triumvirate: Blockchain, Data Science, and Artificial Intelligence

byOlu Omoyele
30 June 2025
0

...

Are Stablecoins Bank Deposits?

Are Stablecoins Bank Deposits?

byOlu Omoyele
31 May 2025
0

...

DAOs and the Coordination of Human Endeavour

DAOs and The Coordination of Human Endeavour

byOlu Omoyele
27 April 2025
0

...

Should DeFi Be Regulated?

Should DeFi Be Regulated?

byOlu Omoyele
27 March 2025
0

...

Markets Update

Your Weekend Crypto Roundup | July 2025 (Week 2)

11 hours ago

The Battle for Web3 Infrastructure: Which Platforms are Dominating in Decentralized Storage, Compute, and Identity?

3 days ago

Is Ethereum Losing the Yield Battle?

3 days ago

Dubai Greenlights Region’s First Tokenized Money Market Fund, Pioneering Real-World Asset Digitization

3 days ago

BRICS Digital Currencies & Their Threat to USD-Denominated Stablecoins

6 days ago

The U.S. Crypto Regulatory Pivot: How the FIT21 Bill & ETF Greenlights Are Reshaping Global Policy

7 days ago
Read More

Events

Rare Evo 2025
Rare Evo 2025
6 Aug 25
Las Vegas
CBDC Conference
CBDC Conference
9 Sep 25
Nassau

Spotlight

All about Ethereum
All about Algorand
All about Bitcoin
All about Gora

Press Releases

MultiBank Group Confirms $MBG Token TGE Set for July 22, 2025

bychainwire
11 July 2025
0

PEPESCAPE Launches Crypto Presale, Combining Memecoin Culture with Decentralized Finance Ecosystem

bychainwire
10 July 2025
0

$MBG Token Pre-Sale Set for July 15 — Only 7 million Tokens Available at $0.35

bychainwire
10 July 2025
0

NovaEx Launches with a Security-First Crypto Trading Platform Offering Deep Liquidity and Institutional-Grade Infrastructure

bychainwire
10 July 2025
0

Threshold Network’s tBTC is Now live on Sui: Ushering in a new era for Bitcoin DeFi

bychainwire
9 July 2025
0

Read More

ADVERTISING

ABOUT

TEAM

CAREERS

CONTACT

TERMS & CONDITIONS

PRIVACY POLICY

© Copyright 2025 DeFi Planet

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Please enter and activate your license key for Cryptocurrency Widgets PRO plugin for unrestricted and full access of all premium features.

Add New Playlist

No Result
View All Result
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Markets
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverses
    • Glossary
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer

© Copyright 2024 DeFi Planet   |   Terms & Conditions   |   Privacy Policy

-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00