casps

The Italian Securities Market Regulator (Consob) issued a notice reminding that, according to the EU Regulation on Markets in Crypto-Assets (MiCAR), virtual asset service providers (VASP) currently registered with the OAM in Italy must submit an application to transition to a regulated crypto asset service provider (CASP) by December 30, 2025, in order to continue operating. Otherwise, they will not be allowed to provide related services from that date, and must cease operations by June 30, 2026, at the latest.Consob specifically reminds investors: it is essential to confirm whether the VASP currently partnered with plans to apply for a CASP license; check if the service provider is listed in the ESMA (European Securities and Markets Authority) or OAM registry; if the service provider is not authorized, investors have the right to request the return of their assets. Consob also reiterates its urging to VASP: those who have not applied for CASP authorization must cease operations by December 30, close all contracts, and return user funds; clearly disclose future operational plans or exit arrangements to users. This notice is part of the comprehensive implementation of MiCAR in the EU, ensuring a smooth and orderly transition in the market.

ChainCatcher news, according to The Block, the European Parliament voted on Wednesday to pass a series of laws, some of which aim to enhance "due diligence measures and checks on customer identity," including so-called crypto asset managers. They will also be required to report suspicious activities to the authorities. The new laws will affect crypto asset service providers (CASPs), such as centralized crypto trading platforms, as well as various other institutions including gambling services.Patrick Hansen, Circle's Director of EU Strategy and Policy, commented on the event, stating that the voting results were as expected. "The package of legislation will be formally adopted by the EU Council and will come into effect three years later."

ChainCatcher news, the European Banking Authority (EBA), the EU's banking regulator, today expanded its guidelines on anti-money laundering (AML) and counter-terrorist financing (CTF) risk factors to include crypto asset service providers (CASPs). The new guidelines emphasize the AML/CTF risk factors and mitigation measures that CASPs need to consider.It is reported that this revision aims to help CASPs identify these risks by providing a non-exhaustive list of different factors that may indicate whether CASPs face higher or lower AML/CTF risks due to their customers, products, delivery channels, and geographical locations.Based on these risk factors, CASPs can develop an understanding of their customer base and identify the parts of their business or activities that are most susceptible to AML/CTF impacts. The guidelines also explain how CASPs should adjust their mitigation measures, including the use of blockchain analysis tools.The EU passed legislation on the transfer of digital assets last year, along with its landmark regulatory framework for crypto asset markets (MiCA).