Crypto Firms That Act Like Banks Should Be Regulated Like Them, ECB Official Says
Crypto firms acting like banks should be regulated like banks, according to the chair of the supervisory board at the ECB.
Supervising crypto companies is more challenging than overseeing banks due to the deterritorialization and lack of headquarters in the crypto sector. [ more ]
EU Banking Watchdog Extends Anti-Money Laundering Measures to Cover Crypto Firms
The European Union's banking watchdog, the European Banking Authority (EBA), has issued guidance for crypto firms to comply with anti-money laundering and terrorist-financing requirements.
The EBA aims to harmonize the approach that crypto asset service providers (CASP) should adopt to combat financial crime.
The EBA has published guidelines on risk-based supervision of CASPs and is consulting on further guidance relating to internal policies and controls CASPs should have. [ more ]