Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 07 DECEMBER 2023

Market Intelligence Thought Leadership Award Winner

New EU Rules For The Tracing Of Crypto-Assets Transfers

Elias Neocleous & Co LLC
Elias Neocleous & Co LLC
Contributor
Elias Neocleous & Co LLC

Elias Neocleous & Co LLC

Elias Neocleous & Co LLC (ENC) is among the largest firms in southeast Europe and the Eastern...

View firm profile
Explore more from Elias Neocleous & Co LLC

The upgraded EU rules on the tracing of transfers of funds bring crypto-asset transfers into the scope of application of the law.

European UnionTechnology
Stefanos Sofroniou
Stefanos Sofroniou
Author LinkedIn connections

The upgraded EU rules on the tracing of transfers of funds bring crypto-asset transfers into the scope of application of the law. Crypto-Asset Service Providers (CASPs) involved in such transfers will be required to collect and verify information on senders and recipients and make it available to national AML/CFT competent authorities on demand.

Together with the publication of the Markets in Crypto-Assets Regulation (MiCA) last May, the EU also published the updated Transfer of Funds (TFR) Regulation (also known as "Wire-Transfer Regulation"). The revision of the TFR was part of a package of four legislative proposals tabled by the Commission back in 2021 to modernize and strengthen the EU's Anti-Money Laundering regime, the other initiatives being the creation of an EU AML Authority, a new AML Regulation, and a new AML Directive (AMLD 6). The new transfer rules seek to ensure traceability of crypto-asset transfers by supplementing and recasting Regulation 2015/847

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

From Cybersecurity To Supply Chain Sovereignty In CSA2: The Spotlight On Suppliers

In January 2026, the European Commission unveiled its plan to overhaul the EU's Cybersecurity Act, a proposal now known as CSA2. It's the natural next step in a story that began years earlier with the EU's 2020 "5G Security Toolbox" - a set of voluntary recommendations encouraging Member States to be cautious about certain telecom suppliers. That voluntary approach produced patchy results: by most accounts, fewer than half of EU countries had actually acted on those recommendations. It is worth asking whether the adoption levels were however a failure of design, or a reflection of Member States reaching different conclusions about their risk exposures.
CyprusTechnology
Elias Neocleous & Co LLC
Elias Neocleous & Co LLC
Article

Europe’s Technological Sovereignty Package: Semiconductors, AI, Open Source And Energy

The European Commission has unveiled the European Technological Sovereignty Package, a comprehensive legislative framework targeting four critical areas: semiconductor manufacturing through Chips Act 2.0, cloud and AI infrastructure via the Cloud and AI Development Act, digital autonomy through open source strategy, and energy sector digitalization. This ambitious initiative aims to fundamentally transform Europe's technological independence and competitive position in the global digital economy by 2030.
CyprusTechnology
George Z. Georgiou & Associates LLC
George Z. Georgiou & Associates LLC
Article

From Cybersecurity To Supply Chain Sovereignty In CSA2: The Spotlight On Suppliers

In January 2026, the European Commission unveiled its plan to overhaul the EU's Cybersecurity Act, a proposal now known as CSA2. It's the natural next step in a story that began years earlier with the EU's 2020 "5G Security Toolbox" - a set of voluntary recommendations encouraging Member States to be cautious about certain telecom suppliers. That voluntary approach produced patchy results: by most accounts, fewer than half of EU countries had actually acted on those recommendations. It is worth asking whether the adoption levels were however a failure of design, or a reflection of Member States reaching different conclusions about their risk exposures.
CyprusTechnology
Elias Neocleous & Co LLC
Elias Neocleous & Co LLC
Article

Jurisdiction In Cross-border Litigation: Insights From A Recent Cyprus Court Decision

It is not uncommon for high-value commercial disputes to give rise to jurisdictional issues, particularly where they involve multiple defendants domiciled in different jurisdictions or where one or more parties have entered into agreements containing jurisdiction clauses. The reason is straightforward: if the Court determines that it lacks jurisdiction to hear the matter, the proceedings may effectively come to an end at the outset. Accordingly, the issue of jurisdiction must be determined by the Court as a preliminary matter and at the earliest stage of proceedings.
CyprusLitigation, Mediation & Arbitration
Elias Neocleous & Co LLC
Elias Neocleous & Co LLC