New EU regulations mandate crypto exchanges to comply with Travel Rule Guidelines, enhancing AML/CFT measures starting Dec. 30.
In a significant move to bolster Anti-Money Laundering (AML) measures, the European Banking Authority (EBA) announced the extension of Travel Rules guidelines to crypto service providers and their intermediaries.
Crypto exchanges operating in the European Union (EU) will be subject to Regulation (EU) 2023/1113 (Travel Rule Guidelines) from Dec. 30, which mandates reporting information on transfers of funds and crypto assets.
As a result, crypto-asset service providers (CASPs), as defined in MiCAR, will be subject to the EU’s Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT) regime.
