In a significant move to combat financial crimes across Europe, the European Parliament and Council have adopted amendments to Directive (EU) 2019/1153, aimed at granting law enforcement authorities direct access to centralized bank account registries.

As the Markets in Crypto-Assets Regulation (MiCAR) authorisation process gathers momentum across Europe, we’re beginning to see the first firms cross the finish line. Several European jurisdictions have now granted approvals, and in Ireland, the Central Bank of Ireland (CBI) has approved its first MiCAR application: Kraken.

Over the last several weeks, speaking with Irish VASPs and new Crypto Asset Service Provider (CASP) entrants, I’ve noticed a recurring theme—some are making their authorisation process more difficult than it needs to be.

The G7 has issued its first joint guidance on preventing Russian export-control and sanctions evasion: 50 high-risk items, red-flag indicators and due-diligence expectations that payment firms, EMIs and CASPs should test their sanctions programmes against.

With a growing number of consumers relying on e-money services, the FCA's proposals are designed to ensure that consumer funds are better protected in the event of firm insolvency.