• About Us
  • Careers
  • Contact
No Result
View All Result
Sunday, June 15, 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
  • 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
  • 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

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
Home News

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
Previous Post

DWF Labs Launches $20M Cloudbreak Fund to Boost Web3 Innovation in Chinese-Speaking Regions

Next Post

Crypto Phishing Scams Reach New Heights: $314 Million Stolen in First Half of 2024, New Reports Reveals

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: investopedia.com
Crypto

Ripple and SEC Move to End XRP Injunction, Release $125 Million in Escrow

13 June 2025
source: thestreet.com
Crypto

Walmart and Amazon Eye USD-Backed Stablecoins Amid Growing Regulatory Clarity

13 June 2025
source: knowbe4.com
News

Australia Bans Financial Adviser for a Decade Over $9.6M Crypto Scam

13 June 2025
source: cointribune.com
Crypto

Despite Crackdown, Darknet Giant Huione Thrives With Billions in Crypto Transactions

13 June 2025

Featured Posts

The Hidden Dangers of Holding Crypto in Exchanges

The Hidden Dangers of Holding Crypto in Exchanges

byOlajumoke Oyalekeand1 others
27 May 2025
0

Should We Put a Price on Everything? The Ethics of Tokenizing Human Actions

Should We Put a Price on Everything? The Ethics of Tokenizing Human Actions

byFaari Labinjo
27 May 2025
0

The Most Influential Figures in Crypto History and Their Impact

The Most Influential Figures in Crypto History and Their Impact

byBobby Okposin
14 May 2025
0

Are Layer 2 Solutions Enhancing Ethereum—or Killing it?

byOlayinka Sodiqand1 others
6 January 2025
0

Beginner’s Guide To Earning Passive Income In Crypto | DeFi Planet

Simple Ways To Earn Passive Income From Your Crypto

byArjun Chandand1 others
1 September 2021
0

Read More

Chain of Thoughts

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

...

Is Tokenization All That It’s Cracked Up To Be?

Is Tokenization All That It’s Cracked Up To Be?

byOlu Omoyele
26 February 2025
0

...

Markets Update

Your Weekend Crypto Roundup | June 2025 (Week 2)

1 day ago

Your Weekend Crypto Roundup | June 2025 (Week 1)

1 week ago

Your Weekend Crypto Roundup | May 2025 (Week 5)

2 weeks ago

Your Weekend Crypto Roundup | May 2025 (Week 4)

3 weeks ago

Your Weekend Crypto Roundup | May 2025 (Week 3)

4 weeks ago

Your Weekend Crypto Roundup | May 2025 (Week 2)

1 month ago
Read More

Events

  • No events
  • Spotlight

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

    Press Releases

    Polemos Announces TGE And A Game-Changing Strategic Partnership With BUFF Accelerating Web3 Adoption

    bychainwire
    12 June 2025
    0

    ​Bitpanda opens the gate to Web3 with Vision (VSN)

    bychainwire
    12 June 2025
    0

    tBTC launches on Starknet: Expanding Bitcoin’s Role in Multi-Chain DeFi

    bychainwire
    11 June 2025
    0

    Allnodes Launches Bare-Metal Servers for Solana Validators and Builders

    bychainwire
    11 June 2025
    0

    Global Crypto Exchange ‘IMBX’ Debuts with Next-Generation Trading Platform

    bychainwire
    10 June 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

    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
    • 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