Crypto
EU Sanctions Trigger Potential Compliance Workload for Authorized Crypto Firms
The European Union's (EU) implementation of Russia- and Belarus-related sanctions controls in August could lead to a significant number of compliance checks for authorized crypto firms.
A study by FM Intelligence estimates that between 1,569 and 5,409 governance and counterparty reviews may be triggered across the EU27.
The analysis identified 289 authorized crypto-asset service providers in the EU27, with 88.6% having at least one permission related to trading, exchange, execution, or order transmission.
The concentration of these firms is particularly notable, with Germany, France, the Netherlands, Malta, and Cyprus accounting for 166 CASPs, or 57.4% of the EU27 total.