Entrepreneurs conducting business in the field of virtual currencies will be required to apply the rules set out in TFR Reg 2023/1113 on transfers of funds and crypto-assets.
Will be necessary to adapt existing procedures in order to fulfil numerous obligations.
E.g. checking the actual ownership, control a non-hosted address when a crypto-assets transfer is sent/received from there, providing data on transfer's initiator, beneficiary.
Entrepreneurs must take measures to fulfil new obligations regarding AML/CFT which will involve the need to implement appropriate technical and organisational solutions.
Entrepreneurs planning to continue their activities in the field of virtual currencies must begin preparatory activities to implement the requirements arising from the TFR.
The obligations arising from the TFR should be implemented by entities in the register of virtual currency activities kept by the Director of the Fiscal Administration Chamber, starting from Dec. 30, 2024.
