PANews reported on November 15 that according to Cointelegraph, the European Banking Authority (EBA) issued new guidelines for payment service providers (PSPs) and crypto asset service providers (CASPs) on November 14, clarifying that these institutions must comply with the restrictive measures of the EU and its member states when transferring money. EBA pointed out that these guidelines will help financial institutions effectively implement restrictive measures within the governance and risk management framework to avoid operational and legal risks.
The EBA stressed that if there are loopholes in the control, internal policies and procedures of financial institutions, it may lead to legal and reputational risks, weaken the effectiveness of EU restrictive measures, and even affect the stability of the EU financial system. The new guidelines require PSPs and CASPs to use reliable screening systems to prevent users or entities from bypassing restrictive measures. These guidelines will take effect from December 30, 2025.