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Regulation (EU) 2024/1624 of the European Parliament and of the Council of 31 May 2024 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing (Text with EEA relevance) article 40 CELEX: 32024R1624 Measures to mitigate risks in relation to transactions with a self-hosted address
1. Crypto-asset service providers shall identify and assess the risk of money laundering and financing of terrorism associated with transfers of crypto-assets directed to or originating from a self-hosted address. To that end, crypto-asset service providers shall have in place internal policies, procedures and controls. Crypto-asset service providers shall apply mitigating measures commensurate with the risks identified. Those mitigating measures shall include one or more of the following: (a) taking risk-based measures to identify, and verify the identity of, the originator or beneficiary of a transfer made from or to a self-hosted address or beneficial owner of such originator or beneficiary, including through reliance on third parties; (b) requiring additional information on the origin and destination of the crypto-assets; (c) conducting enhanced ongoing monitoring of transactions with a self-hosted address; (d) any other measure to mitigate and manage the risks of money laundering and financing of terrorism as well as the risk of non-implementation and evasion of targeted financial sanctions. |
Regulation (EU) 2024/1624 of the European Parliament and of the Council of 31 May 2024 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing (Text with EEA relevance) article 40 CELEX: 32024R1624 2. By 10 July 2027, AMLA shall issue guidelines to specify the mitigating measures referred to in paragraph 1, including: (a) the criteria and means for identification and verification of the identity of the originator or beneficiary of a transfer made from or to a self-hosted address, including through reliance on third parties, taking into account the latest technological developments; (b) criteria and means for the verification of whether or not the self-hosted address is owned or controlled by a customer. |