AMLR, Article 40, DE

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.

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)

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Source: NovaCopilot