The Authority for Anti-Money Laundering and Countering the Financing of Terrorism (AMLA) today published its response to the European Commission's targeted consultation on the review of the Regulation on Markets in Crypto-Assets (MiCA). Considering the framework from an anti-money laundering and countering the financing of terrorism (AML/CFT) perspective, AMLA identifies areas where targeted amendments or clarifications could address money laundering and terrorist financing (ML/TF) risks more effectively and support consistent supervision across the Union.
AMLA's response focuses on five areas:
- Staking, lending and borrowing — AMLA suggests the Commission consider bringing these activities within the regulatory framework, reflecting their specific ML/TF risks.
- DeFi arrangements — AMLA invites consideration of a clear legal definition and common criteria for identifying who exercises effective control.
- Unauthorized Stablecoins — AMLA encourages a consistent EU-wide approach that removes legal uncertainty.
- Certain asset-referenced tokens issuers not considered as obliged entities the AML/CFT framework — AMLA suggests reviewing this interaction, including whether certain token issuers should fall within AML/CFT rules.
- Cross-border supervision of service providers — AMLA sees scope for clearer information requirements to support effective supervision.
AMLA stands ready to support the European Commission in its review of MiCA.
Please access AMLA's response to the EC's targeted consultation on the review of MiCA below: