It appears from the applications for registration we received from crypto service providers that many applicants are insufficiently aware of this requirement, despite our repeated emphasis on this in our newsletters. Consequently, there is a risk that they cannot be registered before the transitional regime expires on 21 November 2020. During the webinar, we again stressed the importance of the requirement to screen counterparties, and explained the specific measures service providers can take to comply with this requirement.
We now urge crypto service providers to inform us of the measures they plan to take to ensure compliance by 17 October 2020 at the latest.
Screening counterparties in incoming and outgoing customer transactions