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The European Banking Authority (EBA) has released new draft Regulatory Technical Standards (RTS) outlining when crypto-asset service providers (CASPs) must appoint a central contact point (CCP). These measures aim to bolster efforts against financial crime.
Under current regulations, CASPs based in one EU Member State are allowed to offer services across other Member States. However, if they maintain a local presence — such as a crypto ATM — they must meet not only their domestic anti-money laundering and counter-terrorism financing (AML/CFT) requirements but also those of the host country. In such cases, appointing a central contact point can help manage the risks of money laundering and terrorist financing (ML/TF) linked to cross-border crypto services and support greater AML/CFT compliance and supervision.
The newly proposed RTS detail:
- The specific circumstances requiring CASPs to appoint a central contact point; and
- The respective roles and responsibilities assigned to that contact point.
However, consistent with the EBA’s mandate, the draft does not prescribe the legal form of the central contact point or its exact location within the EU.
Background and Legal Framework
Under Article 45(10) of Directive (EU) 2015/849, the EBA was tasked with developing standards to determine when and how a central contact point should be appointed. The first version of these RTS was finalized in 2017 and subsequently adopted through Commission Delegated Regulation (EU) 2018/1108, which initially applied only to Electronic Money Institutions (EMIs) and Payment Service Providers (PSPs).
With the introduction of Regulation (EU) 2023/1113 — concerning information accompanying transfers of funds and certain crypto-assets — beginning 30 December 2024, the scope of Directive (EU) 2015/849 has been expanded to include CASPs. As a result, Article 45(9) now stipulates that Member States may require CASPs (similar to EMIs and PSPs) operating through non-branch establishments and headquartered in another Member State to designate a central contact point domestically. This regulatory update necessitated the revision of the earlier Delegated Regulation (EU) 2018/1108 to cover CASPs as well.
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