Recital 14

(14) Directive (EU) 2018/843 was the first legal instrument to address the risks of money laundering and terrorist financing posed by crypto-assets in the Union. It extended the scope of the AML/CFT framework to two types of crypto-asset service providers: providers engaged in exchange services between virtual currencies and fiat currencies, and custodian wallet providers. Due to rapid technological developments and the advancement in FATF standards, it is necessary to review that approach. A first step to complete and update the Union legal framework has been achieved with Regulation (EU) 2023/1114 of the European Parliament and of the Council (14), which set requirements for crypto-asset service providers wishing to apply for an authorisation to provide their services in the internal market. It also introduced a definition of crypto-assets and crypto-asset service providers encompassing a broader range of activities. In addition, Regulation (EU) 2023/1113 has extended traceability requirements to transfers of crypto-assets carried out by crypto-asset service providers covered by Regulation (EU) 2023/1114, and amended Directive (EU) 2015/849 to require Member States to make those crypto-asset service providers obliged entities. Those crypto-asset service providers should also be covered by this Regulation, to mitigate any risk of misuse of crypto-assets for money laundering or terrorist financing purposes.

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Source: EUR-Lex CELLAR · retrieved 2026-09-04 · Text as adopted (Official Journal); later amendments are not incorporated in this text.