EU Moves to Extend AML Contact Point Rules to Crypto Service Providers

The European Commission has adopted a delegated act to extend the Central Contact Point framework to crypto-asset service providers, according to AML Intelligence. According to ChainCatcher, the proposal would give member state regulators the authority to require crypto exchanges and similar firms operating in their countries to appoint a local contact person. The framework previously applied only to electronic money institutions and payment institutions. The revision would bring crypto service providers into the anti-money laundering and compliance network, giving regulators a fixed domestic point of contact to improve information sharing and enforcement coordination.