Activities of Aurore LALUCQ related to 2021/0241(COD)
Shadow 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)
Amendments (38)
Amendment 83 #
Proposal for a regulation
Recital 3 a (new)
Recital 3 a (new)
(3a) Given the growing use of crypto- assets in the form of non-fungible tokens (NFTs) it is important to also ensure transfers of NFTs, which are easily transferable across borders, is accompanied by the same information as other transfers of funds. By obliging crypto-asset service providers to accompany the transfers of crypto-assets with verified information on the originator and beneficiary of the transfer, also transfers of NFTs should be accompanied with such verified information.
Amendment 91 #
Proposal for a regulation
Recital 8
Recital 8
(8) Directive (EU) 2018/843 of the European Parliament and of the Council39 introduced a definition of virtual currencies and recognised providers engaged in exchange services between virtual currencies and fiatofficial currencies as well as custodian wallet providers among the entities submitted to anti-money laundering and countering terrorism financing requirements in the Union legal framework. The latest international developments, notably within the FATF, now implies the need to regulate additional categories of virtual asset service providers not yet covered as well as to broaden the current definition of virtual currency. __________________ 39 Directive (EU) 2018/843 of the European Parliament and of the Council of 30 May 2018 amending Directive (EU) 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, and amending Directives 2009/138/EC and 2013/36/EU (OJ L 156, 19.6.2018, p. 43).
Amendment 96 #
Proposal for a regulation
Recital 13
Recital 13
(13) In addition, the Commission Action Plan of 7 May 2020 for a comprehensive Union policy on preventing money laundering and terrorism financing41 identified six priority areas for urgent action to improve the Union’s anti-money laundering and countering financing of terrorism regime, including the establishment of a coherent regulatory framework for that regime in the Union to obtain more detailed and harmonised rules, notably to address the implications of technological innovation and developments in international standards and avoid diverging implementation of existing rules. Work at international level suggests a need to expand the scope of sectors or entities covered by the anti-money laundering and countering financing of terrorism rules and to assess how they should apply to virtualcrypto- assets service providers not covered so far. __________________ 41 Communication from the Commission on an Action Plan for a comprehensive Union policy on preventing money laundering and terrorist financing (C(2020) 2800 final).
Amendment 113 #
Proposal for a regulation
Recital 22 a (new)
Recital 22 a (new)
(22a) Due to the combination of the cross-border nature, global reach and transaction speed of crypto-asset transfers such an exception is not warranted for crypto-asset transfers. In order to fight the specific risks posed by crypto assets such as the financing of terrorist groups through very small transfers of crypto- assets or money laundering, the obligation to verify the accuracy of the information on the originator or beneficiary should be imposed on all transfers of crypto-assets, whatever the amount of the transaction.
Amendment 118 #
Proposal for a regulation
Recital 27
Recital 27
(27) Regarding transfers of crypto- assets, the requirements of this Regulation should apply to crypto-asset service providers whenever their transactions, whether in fiatofficial currency or a crypto- asset, involve a traditional wire transfer or a transfer of crypto-assets involving a crypto-asset service provider.
Amendment 125 #
Proposal for a regulation
Recital 29 a (new)
Recital 29 a (new)
(29a) In cases of a transfer of crypto- assets made from or to a distributed ledger address not linked to a crypto-asset service provider, the crypto-asset service providers should obtain information both on the originator and the beneficiary. However, the crypto-asset service provider should verify the accuracy of the informations of their customers and should also ensure that transfers of crypto-assets are accompanied by the name of the beneficiary and the beneficiary’s account number, along with the originator’s name and account number. If the crypto-asset service provider is or becomes aware that the information regarding the originator or beneficiary is inaccurate, they should report it to the Financial Intelligence Unit (FIU), in accordance with Directive (EU) 2015/849, even if they are not linked to a crypto-asset service provider.
Amendment 128 #
Proposal for a regulation
Recital 34
Recital 34
(34) Given the potential threat of money laundering and terrorist financing presented by anonymous transfers, it is appropriate to require payment service providers to request information on the payer and the payee. In line with the risk- based approach developed by FATF, it is appropriate to identify areas of higher and lower risk, with a view to better targeting the risk of money laundering and terrorist financing. Accordingly, the crypto-asset service provider of the beneficiary, the payment service provider of the payee and the intermediary payment service provider should have effective risk-based procedures that apply where a transfer of funds lacks the required information on the payer or the payee, or where a transfer of crypto-assets lacks the required information on the originator or the beneficiary, in order to allow them to decide whether to execute, reject or suspend that transferremove the received crypto-assets from the customer's disposal or delay that transfer while further action is requested, and to determine the appropriate follow-up action to take.
Amendment 130 #
Proposal for a regulation
Recital 36 a (new)
Recital 36 a (new)
(36a) This Regulation does not mandate for the use of a particular technology when crypto-asset service providers transfer transaction information. To ensure the efficient implementation of requirements applicable to crypto-asset service providers under this Regulation, standard setting initiatives involving or led by the crypto-asset industry will be critical. Those protocols should be interoperable through the use of international or Union-wide standards in order to allow for a swift exchange of information.
Amendment 131 #
Proposal for a regulation
Recital 37 a (new)
Recital 37 a (new)
(37a) Given the high risk of money laundering and terrorist financing posed by crypto-asset service providers that do not adhere to the EU's legal standards, crypto-asset service providers and any other obliged entity should refrain from interacting with such non-compliant crypto-asset service providers. In particular, crypto-asset service providers should not interact with other CASPs that are located in a country included on the EU's AML/CFT list of high risk third countries or on Annex I or Annex II to the EU's list of non-cooperative jurisdictions for tax purposes, that lack sufficient customer identification and verification process, that offer services associated with a high risk of money laundering, that provide services despite not being registered under [Regulation on Markets in crypto-assets] on that have proven links to illegal activities. Given that unhosted wallets do not fulfil any of the above criteria, Crypto-asset service providers should be prohibited from facilitating transfers of crypto-assets to such unhosted wallets. Crypto-asset service providers facilitating transfers to non-compliant crypto asset service providers or to unhosted wallets should be subject to administrative sanctions.
Amendment 143 #
Proposal for a regulation
Article 2 – paragraph 1
Article 2 – paragraph 1
1. This Regulation shall apply to transfers of funds, in any currency, or crypto-assets, which are sent or received by a payment service provider , a crypto-asset service provider, or an intermediary payment service provider established in the Union. It shall also apply to transfers of crypto-assets as defined in Article 3(10) of this Regulation where the crypto-asset service provider of the originator or the beneficiary is established in the Union.
Amendment 159 #
Proposal for a regulation
Article 2 – paragraph 5 – introductory part
Article 2 – paragraph 5 – introductory part
5. A Member State may decide not to apply this Regulation to transfers of funds or transfers of crypto-assets within its territory to a payee's payment account or a beneficiary’s account permitting payment exclusively for the provision of goods or services where all of the following conditions are met:
Amendment 162 #
Proposal for a regulation
Article 2 – paragraph 5 – point a
Article 2 – paragraph 5 – point a
(a) the payment service provider or the crypto-asset service provider of the payee or the beneficiaryf the payee is subject to [please insert reference – proposal for a regulation on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing and repealing Directive (EU) 2015/849];
Amendment 163 #
Proposal for a regulation
Article 2 – paragraph 5 – point b
Article 2 – paragraph 5 – point b
(b) the payment service provider of the payee or the crypto-asset service provider of the beneficiary is able to trace back, through the payee, by means of a unique transaction identifier, the transfer of funds or, for transfers of crypto-assets, through the beneficiary, by means allowing to identify individually the transfers of crypto-assets on the distributed ledger, from the person who has an agreement with the payee or the beneficiary for the provision of goods or services;
Amendment 165 #
Proposal for a regulation
Article 2 – paragraph 5 – point c
Article 2 – paragraph 5 – point c
Amendment 169 #
Proposal for a regulation
Article 2 – paragraph 5 – point c
Article 2 – paragraph 5 – point c
(c) the amount of the transfer of funds or crypto-assets does not exceed EUR 1000.
Amendment 183 #
Proposal for a regulation
Article 4 – paragraph 1 – point c
Article 4 – paragraph 1 – point c
(c) the payer's address, including the name of the country, official personal document number, customer identification number or date and place of birth;
Amendment 184 #
Proposal for a regulation
Article 4 – paragraph 1 – point d
Article 4 – paragraph 1 – point d
(d) subject to the existence of the necessary field in the relevant payments message format, and where provided by the payer to the payer’s Payment service provider, the current Legal Entity Identifier of the payer or, in its absence, any official equivalent identifier available.
Amendment 185 #
Proposal for a regulation
Article 4 – paragraph 2 – point d
Article 4 – paragraph 2 – point d
(d) subject to the existence of the necessary field in the relevant payments message format, and where provided by the payer to the payer’s Payment service provider, the current Legal Entity Identifier of the payee or, in its absence, any official equivalent identifier available.
Amendment 215 #
Proposal for a regulation
Article 14 – paragraph 1 – point b
Article 14 – paragraph 1 – point b
Amendment 218 #
Proposal for a regulation
Article 14 – paragraph 1 – point b a (new)
Article 14 – paragraph 1 – point b a (new)
(ba) the originator’s distributed ledger address or addresses, where a transfer of crypto-assets is registered on a network using distributed ledger technology or similar technology and, where available, the originator’s crypto-asset account number;
Amendment 220 #
Proposal for a regulation
Article 14 – paragraph 1 – point b b (new)
Article 14 – paragraph 1 – point b b (new)
(bb) the originator’s crypto-asset account number, where a transfer of crypto-assets is not registered on a network using distributed ledger technology or similar technology;
Amendment 221 #
Proposal for a regulation
Article 14 – paragraph 1 – point c
Article 14 – paragraph 1 – point c
(c) the originator’s address, including the name of the country, official personal document number, customer identification number or date and place of birth.
Amendment 223 #
Proposal for a regulation
Article 14 – paragraph 1 – point c a (new)
Article 14 – paragraph 1 – point c a (new)
(ca) subject to the existence of the necessary field in the relevant message format, and where provided by the originator to the originator’s crypto-asset service provider, the current LEI of the originator.
Amendment 237 #
Proposal for a regulation
Article 14 – paragraph 4
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 as long as it is submitted previously, simultaneously or concurrently with the transfer itself and in a secure manner.
Amendment 240 #
Proposal for a regulation
Article 14 – paragraph 4 a (new)
Article 14 – paragraph 4 a (new)
4a. In the case of a transfer of crypto- assets made to a distributed ledger address not linked to a crypto-asset service provider, the crypto-asset service provider of the originator shall obtain and hold information from paragraph 1 and 2 and ensure that the transfer of crypto-assets can be individually identified.
Amendment 255 #
Proposal for a regulation
Article 15 – paragraph 2
Article 15 – paragraph 2
Amendment 264 #
Proposal for a regulation
Article 16 – paragraph 1 a (new)
Article 16 – paragraph 1 a (new)
1a. In the case of a transfer of crypto- assets from an unhosted wallet, the crypto-asset service provider of the beneficiary shall obtain and retain the information referred to in Article 14(1) and (2) from its customer. The crypto- asset service provider shall maintain a record of all transfers of crypto-assets from unhosted wallets and notify competent authority of any customer having received EUR 1 000 or more from unhosted wallets.
Amendment 265 #
Proposal for a regulation
Article 16 – paragraph 2
Article 16 – paragraph 2
2. In the case of a transfers of crypto- assets exceeding EUR 1 000, whether those transfers are carried out in a single transaction or in several transactions which appear to be linked, before making the crypto-assets available to the beneficiary, the 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) 2015/2366made from a distributed ledger address not linked to a crypto-asset service provider, the crypto-asset service provider of the beneficiary shall obtain and hold information referred to in Article 14(1) and (2) and ensure that the transfer of crypto- assets can be individually identified.
Amendment 266 #
Proposal for a regulation
Article 16 – paragraph 2
Article 16 – paragraph 2
2. In the case of transfers of crypto- assets exceeding EUR 1 000, whether those transfers are carried out in a single transaction or in several transactions which appear to be linked, bBefore making the crypto-assets available to the beneficiary, the crypto- asset service provider of the beneficiary shall verify the accuracy of the information on the beneficiary referred to in paragraph 1 and 1a 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. In the case of a transfer of crypto-assets from an unhosted wallet, the crypto-asset service provider shall, before making the crypto-assets available to the beneficiary, verify directly with the originator of the funds the accuracy of the information on the originator referred to in paragraph 1 and 1a.
Amendment 273 #
Proposal for a regulation
Article 16 – paragraph 3
Article 16 – paragraph 3
Amendment 278 #
Proposal for a regulation
Article 16 – paragraph 4 – introductory part
Article 16 – paragraph 4 – introductory part
4. Verification as referred to in the previous paragraphs 2 and 3 shall be deemed to have taken place where one of the following applies:
Amendment 288 #
Proposal for a regulation
Article 17 – paragraph 1 – subparagraph 1
Article 17 – paragraph 1 – subparagraph 1
The crypto-asset service provider of the beneficiary shall implement effective risk- based procedures, including procedures based on the risk-sensitive basis referred to in Articles 16, 18(3) and 37 of Regulation [please insert reference – proposal for a regulation on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing and repealing Directive (EU) 2015/849], for determining whether to execute or reject athe appropriate action and follow-up action for transfers of crypto- assets lacking the required complete originator and beneficiary information and for taking the appropriate follow-up action. Crypto-asset service providers may: a) remove the received crypto assets lacking the required complete originator and beneficiary information from the customer’s disposal, preventing their withdrawal or exchange ; or b) delay their availability while further information is requested.
Amendment 292 #
Proposal for a regulation
Article 17 – paragraph 1 – subparagraph 2
Article 17 – paragraph 1 – subparagraph 2
Where the crypto-asset service provider of the beneficiary becomes aware, when receiving transfers of crypto-assets, that the information referred to in Article 14(1) or (2) or Article 15 is missing or incomplete, the 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.
Amendment 301 #
Proposal for a regulation
Article 18 a (new)
Article 18 a (new)
Article 18 a Prohibition of transfers involving non- compliant crypto-asset service providers 1. Crypto-asset service providers or other obliged entities shall not facilitate any transfer of crypto-assets to or from crypto- asset service providers that : (a) are registered or domiciled in a country included in the EU AML/CFT list of high risk third country or in a sanctioned jurisdiction, or on Annex I or II to the EU list of non-cooperative jurisdictions for tax purposes; b) do not have an adequate customer identification and verification procedure; c) offer mixing or tumbling services, privacy wallets, or other anonymising services for transfers of crypto-assets; d) offer services of transfers of crypto- assets without authorisation under Regulation [Regulation on Markets in Crypto-assets]; e) have proven links to illegal activities.
Amendment 303 #
Proposal for a regulation
Article 18 b (new)
Article 18 b (new)
Article 18 b Prohibition of transfers to unhosted wallets Crypto-asset service providers or other obliged entities shall not facilitate any transfer of crypto-assets to unhosted wallets.
Amendment 318 #
Proposal for a regulation
Article 23 – paragraph 1 – point d a (new)
Article 23 – paragraph 1 – point d a (new)
(da) facilitated transfers of crypto- assets to non-compliant crypto-asset service providers in breach of Article 18a
Amendment 319 #
Proposal for a regulation
Article 23 – paragraph 1 – point d b (new)
Article 23 – paragraph 1 – point d b (new)
(db) facilitated transfers of crypto- assets to unhosted wallets in breach of Article 18b
Amendment 329 #
Proposal for a regulation
Article 30 – paragraph 1
Article 30 – paragraph 1
The ESAs shall issue guidelines addressed to the competent authorities and the paymen, payment service providers, and crypto asset service providers in accordance with Article 16 of Regulation (EU) No 1093/2010 on measures to be taken in accordance with this Regulation, in particular as regards the implementation of Articles 7, 8, 11 and 12 thereofand Articles 14 and 17 thereof, as well as guidelines specifying technical aspects in relation to direct debits. From 1 January 2020, EBA shall, where appropriate, issue such guidelines.