The European Banking Authority (EBA) has published new draft Regulatory Technical Standards (RTS) that define the conditions under which crypto-asset service providers (CASPs) are required to appoint a central contact point (CCP). This measure supports efforts to address financial crime risks linked to cross-border crypto-asset services.
Cross-Border Services and Local Obligations
CASPs established in one EU Member State can offer services in other Member States. In situations where they maintain a local presence—such as operating a crypto ATM—they are subject to the anti-money laundering and counter-terrorist financing (AML/CFT) requirements of both the home and host jurisdictions. The appointment of a central contact point can improve oversight and help manage money laundering and terrorist financing (ML/TF) risks in such arrangements.The draft RTS clarifies:
- The specific conditions under which CASPs should appoint a central contact point; and
- The expected roles and responsibilities of that contact point.
Legal Background
Article 45(10) of Directive (EU) 2015/849 requires the EBA to develop RTS that outline the criteria for determining when a CCP should be appointed and what functions it should serve. An earlier version of these standards was published in 2017 and adopted through Commission Delegated Regulation (EU) 2018/1108, which applied only to Electronic Money Institutions (EMIs) and Payment Service Providers (PSPs).Regulation (EU) 2023/1113, which came into effect on 30 December 2024, extends these obligations to CASPs by amending Directive (EU) 2015/849. Under the updated provisions, Member States may require CASPs with a local presence—established in forms other than a branch and headquartered in another Member State—to appoint a CCP within the host country. This update requires the EBA to revise the existing Delegated Regulation accordingly.
What This Means for CASPs
The revised RTS introduce new compliance expectations for CASPs operating across borders. Those with local establishments should consider whether they fall within scope and begin preparations to meet the CCP requirement ahead of the regulation’s effective date.
How can BDO Malta assist?
For businesses seeking assistance with these regulatory changes, BDO Malta is your trusted partner, offering expert legal guidance every step of the way. Contact us on legal@bdo.com.mt.
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