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The European Banking Authority (EBA) has announced new draft Regulatory Technical Standards (RTS) detailing when crypto-asset service providers (CASPs) must designate a central contact point to aid in the fight against financial crime.
According to the EBA, CASPs based in one EU member state are permitted to operate in other member states. If they maintain a local presence, such as a crypto ATM, they must adhere to anti-money laundering and counter-terrorist financing (AML/CFT) requirements both domestically and abroad. In these cases, central contact points are intended to manage risks associated with cross-border services and support effective supervision.
The draft RTS specifies the conditions under which CASPs must appoint a central contact point and outlines the responsibilities expected of that role. The standards do not dictate a specific structure or location within the EU for these contact points but follow the EBA’s legal mandate by setting criteria for necessary appointments and their functions.
