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The Guidelines on restrictive measures and the ‘Travel Rule’ are now being finalised

In November 2023, we launched a consultation on new EBA ‘Travel Rule’ Guidelines. The main objective of these Guidelines is to prevent the abuse of funds and crypto-assets transfers for terrorist financing and other financial crime purposes. We held a virtual public hearing on 17 January with over 120 participants from both, payment service and crypto asset service providers. The consultation closed in February 2024. We received more than 30 responses, which are now being analysed.

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date:  30/04/2024

In December 2023, we consulted on new Guidelines on internal policies, procedures and controls to ensure the implementation of Union and national restrictive measures. Restrictive measures are binding on any person or entity under the jurisdiction of Member States. Through these Guidelines, the EBA creates, for the first time, a common understanding, among payment service providers (PSPs), CASPs and their supervisors, of the steps they need to take to be able to comply with restrictive measures. We held a virtual public hearing on the consultation paper on 8 February with 113 interested stakeholders. We received 21 responses and are now finalising the Guidelines in light of the comments received.