Crypto Compliance Under Fire: AMLA Warns of Massive Risks During MiCA Transition
The AMLA chair has issued a stern warning regarding the potential for increased anti-money laundering (AML) risks as crypto firms migrate to the EU's MiCA licensing regime. Bruna Szego highlights that the mass movement of users following the end of the MiCA transitional period could severely strain the compliance capabilities of virtual asset service providers (VASPs).
This regulatory shift creates a dual-threat environment: firms winding down EU operations face liquidity and withdrawal pressures, while newly licensed entities may struggle with onboarding surges. Maintaining robust compliance procedures is essential to prevent systemic vulnerabilities during this critical transition to the Markets in Crypto-Assets regulation.
Crypto firms face heightened AML risks during the post-MiCA migration, according to the chair of AMLA. The Authority for Anti-Money Laundering and Countering the Financing of Terrorism is expanding its crypto oversight as firms complete the transition to the EU’s Markets in Crypto-Assets (MiCA) licensing regime.
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