BETA

Activities of Ernest URTASUN related to 2021/0241(COD)

Reports (1)

REPORT on the proposal for a regulation of the European Parliament and of the Council on information accompanying transfers of funds and certain crypto-assets (recast)
2022/04/06
Committee: ECONLIBE
Dossiers: 2021/0241(COD)
Documents: PDF(351 KB) DOC(156 KB)
Authors: [{'name': 'Assita KANKO', 'mepid': 197469}, {'name': 'Ernest URTASUN', 'mepid': 124972}]

Amendments (20)

Amendment 122 #
Proposal for a regulation
Recital 29
(29) The crypto-asset service provider of the originator should ensure that transfers of crypto-assets are accompanied by the name of the originator, the originator’s account number, where such an account exists and is used to process the transaction, and the originator’s address, official personal document number, customer identification number or date and place of birth. The crypto-asset service provider of the originator should also ensure that transfers of crypto-assets are accompanied by the name of the beneficiary and the beneficiary’s account number, where such an account exists and is used to process the transaction. The crypto-asset service provider of the originator could be allowed to refrain from transmitting such information when adequate safeguards for ensuring respect of data protection, of the principle of the rule of law and of fundamental rights cannot be ensured.
2022/03/03
Committee: ECONLIBE
Amendment 132 #
Proposal for a regulation
Recital 37 a (new)
(37a) In view of the current lack of common standards and infrastructures necessary to comply with the obligations set out in this Regulation, and in order to ensure a level playing field between crypto-asset service providers operating in this eco-system, especially SMEs and start-ups, competent authorities could grant crypto-asset service providers an additional transitional period to comply with this Regulation, where duly justified by the lack of technological capability and the scale of operations of the obliged entity.
2022/03/03
Committee: ECONLIBE
Amendment 181 #
Proposal for a regulation
Article 3 – paragraph 1 – point 16 a (new)
(16a) ‘intermediary crypto-asset service provider’ means a crypto-asset service provider or other obliged entity that is not the crypto-asset service provider of the originator or of the beneficiary and that receives and transmits a transfer of crypto-assets on behalf of the crypto-asset service provider of the originator or of the beneficiary or of another intermediary crypto-asset service provider;
2022/03/03
Committee: ECONLIBE
Amendment 235 #
Proposal for a regulation
Article 14 – paragraph 4
4. The information referred to in paragraphs 1 and 2 does not have to be attached directly to, or be included in, the transfer of crypto-assets. shall be submitted in a secure manner and previously, simultaneously or concurrently with the transfer of crypto-assets provided that either of the following applies: (a) the crypto-asset service provider of the beneficiary is a regulated entity established within the Union; (b) the crypto-asset service provider of the beneficiary is established in a third country and is able to receive and retain the information required under this Regulation and applies adequate safeguards for ensuring data protection within the meaning of Chapter V of Regulation (EU) 2016/679. 4a. However, where the crypto-asset service provider of the originator knows, suspects or has reasonable grounds to suspect that the crypto-asset service provider of the beneficiary does not apply adequate safeguards for ensuring data protection, the crypto-asset service provider of the originator shall proceed with the execution of the transfer without transmitting the information referred to in paragraph 1 and 2. 4b. Where the crypto-asset service provider of the originator knows or has reasonable grounds to believe that the crypto-asset service provider of the beneficiary, wherever established, is owned, managed or in anyway controlled by or accessible to a government entity, within the meaning of Article 2(b) of Regulation (EU, Euratom) 2020/2092, where clear risks of serious breaches of the principle of the rule of law or serious fundamental rights violations have been identified, the crypto-asset service provider of the originator shall proceed with the execution of the transfer without transmitting the information referred to in paragraph 1 and 2. 4c. Such information shall however be retained by the crypto-asset service provider of the originator. The service provider of the originator shall inform competent authorities of the execution of the transfer without delay and make the information available to them upon request. 4d. The information referred to in paragraph 1, points (a) and (c), and paragraph 2, point (a), shall not be attached directly to, or included in, the transfer of crypto-assets.
2022/03/03
Committee: ECONLIBE
Amendment 238 #
Proposal for a regulation
Article 14 – paragraph 4 a (new)
4a. Crypto-asset service providers shall establish and maintain alternative procedures consistent with the objectives of this Regulation, including the possibility of not sending personally identifiable information. Those procedures shall be subject to appropriate review by competent authorities. EBA shall issue guidelines in accordance with Article 30 to specify the criteria for assessing whether the provider of the originator is able to protect personally identifiable information and the conditions for establishing alternative procedures to ensure the traceability of transfers, where the submission of information to the provider of the beneficiary shall be avoided.
2022/03/03
Committee: ECONLIBE
Amendment 248 #
Proposal for a regulation
Article 14 – paragraph 6 a (new)
6a. Before transferring crypto-assets, the crypto-asset service provider or other obliged entity of the originator shall review the information referred to in paragraph 2 to verify that the beneficiary of the transfer is not an individual, entity or group subject to restrictive measures.
2022/03/03
Committee: ECONLIBE
Amendment 250 #
Proposal for a regulation
Article 14 – paragraph 6 b (new)
6 b. Crypto-asset service providers and other obliged entities may rely on other crypto-asset service providers and other obliged entities, whether situated in a Member State or in a third country, to review the information on the beneficiary of a transfer to ensure compliance with any restrictive measures, provided that the applicable conditions laid down in Section IV of Directive (EU) 2015/849 are respected.
2022/03/03
Committee: ECONLIBE
Amendment 254 #
Proposal for a regulation
Article 15 – paragraph 2
2. By way of derogation from Article 14(1), transfers of crypto-assets not exceeding EUR 1 000 that do not appear to be linked to other transfers of crypto- assets which, together with the transfer in question, exceed EUR 1 000, shall be accompanied by at least the following information: (a) the beneficiary; (b) originator and of the beneficiary or, where Article 14(3) applies, the insurance that the crypto-asset transaction can be individually identified; By way of derogation from Article 14(5), the crypto-assets service provider of the originator shall only verify the information on the originator referred to in this paragraph, first subparagraph, points (a) and (b), in the following cases: (a) of the originator has receiveddeleted the names of the originator and of the account number of the the crypto-assets service provider the crypto- assets to be transferred in exchange of cash or anonymous electronic money; (b) of the originator has reasonable grounds for suspecting money laundering or terrorist financing.service provider
2022/03/03
Committee: ECONLIBE
Amendment 285 #
Proposal for a regulation
Article 16 – paragraph 4 a (new)
4a. Before transferring crypto-assets, the crypto-asset service provider or other obliged entity of the beneficiary shall review the information referred to in paragraph 2 to verify that the originator of the transfer is not an individual, entity or group subject to restrictive measures.
2022/03/03
Committee: ECONLIBE
Amendment 287 #
Proposal for a regulation
Article 16 – paragraph 4 b (new)
4 b. Crypto-asset service providers and other obliged entities may rely on other crypto-asset service providers and other obliged entities, whether situated in a Member State or in a third country, to review the information on the originator of a transfer to ensure compliance with any restrictive measures, provided that the applicable conditions laid down in Section IV of Directive (EU) 2015/849 are respected.
2022/03/03
Committee: ECONLIBE
Amendment 304 #
Proposal for a regulation
Chapter III – Section 2 a (new)
OBLIGATIONS ON INTERMEDIARY CRYPTO-ASSET SERVICE PROVIDERS Article 18xx (new) Retention of information on the originator and the beneficiary with the transfer Intermediary crypto-asset service providers shall ensure that all the information received on the originator and the beneficiary that accompanies a transfer of funds is transmitted with the transfer and that records of such information are retained and made available on request to the competent authorities.
2022/03/03
Committee: ECONLIBE
Amendment 305 #
Proposal for a regulation
Article 18 a (new)
Article 18 a Measures to mitigate risks deriving from transfers involving privacy wallets and anonymising services Crypto-asset service providers or other obliged entities shall not facilitate any transfer of crypto-assets to or from privacy wallets, mixers or tumblers, or other anonymising services in relation to the transfer of crypto-assets.
2022/03/03
Committee: ECONLIBE
Amendment 306 #
Proposal for a regulation
Article 18 b (new)
Article 18 b Detection of missing information on the originator or the beneficiary 1. The intermediary crypto-asset service provider shall implement effective procedures, including, where appropriate, monitoring after or during the transfers, to detect whether the information referred to in Article 14(1) points (a), (b) and (c) and Article 14 (2) points (a), (b) and (ba) on the originator or the beneficiary is submitted with the transfer of crypto- assets or batch file transfer, including where the transfer is made from an unhosted wallet. 2. Before making the crypto-assets available to the beneficiary, the intermediary crypto-asset service provider of the beneficiary shall verify the accuracy of the information on the beneficiary referred to in paragraph 1 on the basis of documents, data or information obtained from a reliable and independent source, without prejudice to the requirements laid down in Articles 83 and 84 of Directive (EU) 2015/2366.
2022/03/03
Committee: ECONLIBE
Amendment 307 #
Proposal for a regulation
Article 18 c (new)
Article 18 c Transfers of crypto-assets with missing information on the originator or the beneficiary 1. The intermediary crypto-asset service provider shall implement effective risk- based procedures, including procedures based on the risk-sensitive basis referred to in Article 13 of Directive (EU) 2015/849, or determining whether to execute, reject or suspend a transfer of crypto-asset lacking the required complete originator and beneficiary information and for taking the appropriate follow up action. Where the intermediary crypto-asset service provider becomes aware, when receiving transfers of crypto-assets, that the information referred to in Article 14(1), points (a), (b) and (c), Article 14, points (2)(a) and (b), or Article 15 is missing or incomplete, the intermediary crypto-asset service provider shall reject the transfer or ask for the required information on the originator and the beneficiary before or after making the crypto-assets available to the beneficiary, on a risk-sensitive basis. Alternatively, the crypto-asset service provider or obliged entity of the beneficiary may hold the transferred crypto-assets without making them available to the beneficiary, until such information has been obtained. 2. Where a crypto-asset service provider repeatedly fails to provide the required information on the originator or the beneficiary, the intermediary crypto-asset service provider shall take steps, which may initially include the issuing of warnings and setting of deadlines, and return the transferred crypto-assets to the originator’s crypto-asset account or wallet address. The crypto-asset service provider or obliged entity of the beneficiary shall also determine whether to reject any future transfers of crypto-assets from, restrict or terminate its business relationship with, that crypto-asset service provider or obliged entity. The intermediary crypto-asset service provider shall report that failure, and the steps taken, to the competent authority responsible for monitoring compliance with anti-money laundering and counter terrorist financing provisions.
2022/03/03
Committee: ECONLIBE
Amendment 308 #
Proposal for a regulation
Article 18 d (new)
Article 18 d Assessment and reporting The intermediary crypto-asset service provider shall take into account missing information on the originator or the beneficiary as a factor when assessing whether a transfer of crypto-asset, or any related transaction, is suspicious, and whether it is to be reported to the FIU in accordance with Directive (EU) 2015/849.
2022/03/03
Committee: ECONLIBE
Amendment 313 #
Proposal for a regulation
Article 21 a (new)
Article 21 a Cooperation among competent authorities The exchange of information among national competent authorities and with relevant third country authorities under this Regulation is subject to the provisions laid down in Directive (EU) 2015/849. Without prejudice to the provisions on cooperation contained in that Directive (EU) 2015/849, Member States shall ensure that the exchange of information among national competent authorities and with third countries authorities is conducted in accordance with the rule of law and the fundamental rights and principles recognised by the Charter of Fundamental Rights of the European Union.
2022/03/03
Committee: ECONLIBE
Amendment 330 #
Proposal for a regulation
Article 30 – paragraph 1 a (new)
The EBA shall issue guidelines specifying technical aspects of the application of this Regulation to direct debits as well as the measures to be taken by payment initiation service providers under this Regulation, taking into account their limited role in the payment transaction.
2022/03/03
Committee: ECONLIBE
Amendment 336 #
Proposal for a regulation
Article 31 a (new)
Article 31 a Transitional provisions 1. Where, due to the lack of technological capability, an obliged entity is unable to comply with the requirements laid down under this Regulation, it may request the competent authority to grant an additional transitional period to comply with the Regulation, provided that such request is duly justified. 2. The competent authority, after consultation of the EBA, may grant a transitional period up to 6 months, on a case-by-case basis, where duly justified by the lack of technological capability and the scale of operations of the obliged entity, and may require compensatory measures to restrict certain transfers of crypto-assets.
2022/03/03
Committee: ECONLIBE
Amendment 337 #
Proposal for a regulation
Article 31 a (new)
Article 31 a Amendments to Directive (EU) 2015/849 1. Directive (EU) 2015/849 is amended as follows: (1) In Article 2 (1) (3), points (h), the following points are added: (ha) providers engaged in the transfer of crypto-assets; (3) In Article 3(19) the following point is added: (19a) ‘transfer of crypto-assets’ means a transfer of crypto-assets as defined in Regulation [please insert reference to Transfer of Funds Regulation(EU) 2015/847] 2. Member States shall bring into force the laws, regulations and administrative provisions necessary to comply with the previous paragraph by [please insert three months after the date of entry into force of this Regulation]. They shall immediately communicate the text of those provisions to the Commission.
2022/03/03
Committee: ECONLIBE
Amendment 339 #
Proposal for a regulation
Article 32 – paragraph 1 a (new)
By [please insert 6 months after entry into force of this Regulation] providers of services relating to transfers of crypto- assets that are obliged entities under Directive (EU) 2015/849 shall adopt a rollout plan to carry out the phase-in implementation of this Regulation in accordance with guidelines issued by the EBA, in order to ensure full compliance with the obligations of this Regulation by [please insert 12 months after entry into force of this Regulation]. By [please insert 3 months after entry into force of the proposal] EBA shall adopt guidelines to specify the conditions to facilitate the phased-in implementation of this Regulation.
2022/03/03
Committee: ECONLIBE