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EBA Sets New Rules for Crypto-Asset Service Providers to Appoint Central Contact Points

  • Writer: OpusDatum
    OpusDatum
  • Apr 25
  • 2 min read
Logo of the European Banking Authority with "eba" in bold blue letters, a yellow vertical line, and the text "European Banking Authority."

In a major step towards strengthening Europe's fight against financial crime, the European Banking Authority (EBA) has published new draft Regulatory Technical Standards (RTS) defining when crypto-asset service providers (CASPs) must appoint a central contact point (CCP). This measure is aimed at improving cross-border supervision and reinforcing compliance with anti-money laundering and countering the financing of terrorism (AML/CFT) requirements.


New Requirements for Crypto-Asset Service Providers in the EU


The draft RTS clarify the conditions under which CASPs operating across Member States must designate a central contact point. CASPs that establish a local presence, such as crypto ATMs, outside their home Member State must now comply with both local and home AML/CFT obligations.


Central contact points are designed to mitigate the money laundering and terrorist financing (ML/TF) risks associated with cross-border crypto activities. They also facilitate improved AML/CFT supervision by providing a direct link between CASPs and national authorities.


Key Elements of the Draft Standards


The EBA’s draft RTS focus on two core elements:


  • Appointment Conditions: Defining when a CASP is required to establish a central contact point, particularly in cases involving local establishments.


  • Roles and Responsibilities: Outlining the CCP’s duties, including facilitating regulatory communications and ensuring local compliance.


The RTS deliberately avoid prescribing the form or specific location of central contact points within the EU, allowing flexibility for CASPs.


Legal Basis & Regulatory Background


The updated RTS are developed under Article 45(10) of Directive (EU) 2015/849, building on the earlier Commission Delegated Regulation (EU) 2018/1108, which previously applied only to Electronic Money Institutions (EMIs) and Payment Service Providers (PSPs).


The regulatory scope has now been expanded by Regulation (EU) 2023/1113, effective from 30 December 2024, bringing CASPs fully within the remit of AML/CFT obligations. This extension ensures that CASPs will be subject to the same cross-border compliance expectations as EMIs and PSPs.


Boosting Financial Crime Defences in the Crypto Sector


The introduction of mandatory central contact points for CASPs marks a pivotal moment in the EU's approach to crypto regulation. By enhancing oversight and standardising compliance requirements across borders, the EBA aims to close gaps that criminals could exploit.


CASPs and compliance teams should review the draft RTS carefully to prepare for the upcoming changes, ensuring readiness before the new regulations take effect at the end of 2024.


Read the press release here.

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