Reglementarea obligaţiilor prestatorilor de servicii de criptoactive în cadrul propunerii de Regulament privind AML/CFT
Regulation of the obligations of cryptoactive service providers in the framework of the proposed Regulation on AML / CFT

Summary/Abstract: On July 21st 2021, the European Commission published the legislative package on establishing a single EU regulatory framework on the prevention of money laundering and terrorist financing. To increase the effectiveness of anti-money laundering and anti-terrorist financing measures, the legislator has provided for the regulation of a harmonized system for the application of rules on risk assessment at Member State level and uniform surveillance throughout Europe. The new normative architecture is completed by including a framework for regulating cryptocurrency transactions and ensuring the traceability of cryptocurrency transfers. This paper examines the effects, in particular, of the Proposed AML/CFT Regulation on crypto-asset service providers and discusses the provisions of other legislation affecting the crypto-asset ecosystem. While we note, in the first phase, the application of “the same services, the same risks, the same rules, and the same supervision” to crypto-asset service providers in their role as obligated entities, it is possible to observe a paradigm shift in the ways transactions are monitored and the risks of users (for instance, DeFi products) in the area are assessed over time.

• Details
• Contents