The European Financial Supervisory Authority has set common standards for compliance with restrictive measures for financial institutions in the EU, including specific guidance for payment service providers (PSPs) and crypto-asset service providers (CASPs).
$SUI $AVAX $FTM The European Banking Authority (EBA) has published two sets of final Guidelines that set out for the first time common EU standards for monitoring compliance by European financial institutions with restrictive measures imposed at Union and Member State level.
The first set of Guidelines is general and addresses all financial institutions. The second is specifically for payment service providers and cryptoasset service providers. The document describes how these types of companies should comply with the restrictive measures when transferring funds or cryptoassets.
In addition, the guidelines describe the interaction of restrictive measures with the broader risk management practices of financial institutions. In addition to ensuring the effective implementation of restrictive measures, the document is intended to minimize the operational and legal risks associated with these practices for financial institutions.
The recommendations will come into force on December 30, 2025.
As a reminder, major cryptocurrency exchanges were actively updating their stablecoin policies in the summer of 2024, preparing for the full entry into force of regulatory requirements for stablecoin issuers adopted under the European MiCA bill.
