EBA launched a public consultation on draft RTS specifying the criteria according to which crypto-asset service providers (CASPs) should appoint a central contact point to ensure compliance with local AML/CFT obligations of the host Member State.
CASPs can provide services in other Member States through establishments other than branches. Once established, CASPs have to comply with local AML/CFT obligations, even if their establishments are not ‘obliged entities’ themselves. This can make the AML/CFT supervision of services provided through these establishments difficult.
To address this, the draft RTS sets out the criteria for determining the circumstances in which the appointment of a central contact point is appropriate, as well as the functions of those central contact points. Since the same considerations apply to electronic money issuers (EMI) and payment service providers (PSPs) as they do to CASPs, the EBA proposes to retain the structure and approach set out in Commission Delegated Regulation (EU) 2018/1108 and extend existing provisions to CASPs (leaving the provisions that apply to EMIs and PSPs unchanged), while also introducing new provisions for CASPs where this is necessary in light of their business model and operation.
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