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The Dutch Authority for the Financial Markets (AFM) has announced the preparation of an annex for crypto-asset service providers (CASPs), supplementing the Guideline on the Wwft and Sanctions Act 1977. This document outlines sector-specific areas of focus.
According to a news release, starting February 4, 2025, CASPs will be legally defined as financial institutions under the Dutch Anti-Money Laundering and Anti-Terrorist Financing Act (Wwft). This classification mandates that CASPs adhere to specific standards aimed at preventing financial crimes. These include implementing internal controls and administrative processes that align with both the Wwft and the Sanctions Act 1977.
In addition to national regulations, CASPs must also comply with the European Transfer of Funds Regulation (TFR), which introduces anti-money laundering and counter-terrorist financing obligations. A significant component of the TFR is the Travel Rule, which requires CASPs to include detailed transaction and sender/recipient information with each crypto-asset transfer. Guidelines from the European Banking Authority clarify how these requirements should be applied in practice.
