Crypto firms face AML risks during post-MiCA migration, says AMLA chair
The end of MiCA’s transitional period could trigger a surge of EU users moving between crypto platforms, creating compliance strain for virtual asset service providers. AMLA chair Bruna Szego warned that firms winding down EU operations may face heavy withdrawal pressure, while licensed providers may struggle to onboard large numbers of new customers. She urged continuous, efficient AML controls during the transition. As of July 1, crypto asset service providers need a license to keep serving EU customers, and unauthorized firms must quickly wind down EU activities. AMLA had already issued guidance on managing money-laundering risks during the transition for both exiting firms and licensed providers. AMLA also plans a year-end report on crypto-sector money-laundering risks and supervision practices across member states, alongside expanded blockchain analytics. The findings will be used to push more consistent anti-money-laundering oversight across the bloc.
