Activities of Ernest URTASUN related to 2021/0241(COD)
Reports (1)
REPORT on the proposal for a regulation of the European Parliament and of the Council on information accompanying transfers of funds and certain crypto-assets (recast)
Amendments (20)
Amendment 122 #
Proposal for a regulation
Recital 29
Recital 29
(29) The crypto-asset service provider of the originator should ensure that transfers of crypto-assets are accompanied by the name of the originator, the originator’s account number, where such an account exists and is used to process the transaction, and the originator’s address, official personal document number, customer identification number or date and place of birth. The crypto-asset service provider of the originator should also ensure that transfers of crypto-assets are accompanied by the name of the beneficiary and the beneficiary’s account number, where such an account exists and is used to process the transaction. The crypto-asset service provider of the originator could be allowed to refrain from transmitting such information when adequate safeguards for ensuring respect of data protection, of the principle of the rule of law and of fundamental rights cannot be ensured.
Amendment 132 #
Proposal for a regulation
Recital 37 a (new)
Recital 37 a (new)
(37a) In view of the current lack of common standards and infrastructures necessary to comply with the obligations set out in this Regulation, and in order to ensure a level playing field between crypto-asset service providers operating in this eco-system, especially SMEs and start-ups, competent authorities could grant crypto-asset service providers an additional transitional period to comply with this Regulation, where duly justified by the lack of technological capability and the scale of operations of the obliged entity.
Amendment 181 #
Proposal for a regulation
Article 3 – paragraph 1 – point 16 a (new)
Article 3 – paragraph 1 – point 16 a (new)
(16a) ‘intermediary crypto-asset service provider’ means a crypto-asset service provider or other obliged entity that is not the crypto-asset service provider of the originator or of the beneficiary and that receives and transmits a transfer of crypto-assets on behalf of the crypto-asset service provider of the originator or of the beneficiary or of another intermediary crypto-asset service provider;
Amendment 235 #
Proposal for a regulation
Article 14 – paragraph 4
Article 14 – paragraph 4
4. The information referred to in paragraphs 1 and 2 does not have to be attached directly to, or be included in, the transfer of crypto-assets. shall be submitted in a secure manner and previously, simultaneously or concurrently with the transfer of crypto-assets provided that either of the following applies: (a) the crypto-asset service provider of the beneficiary is a regulated entity established within the Union; (b) the crypto-asset service provider of the beneficiary is established in a third country and is able to receive and retain the information required under this Regulation and applies adequate safeguards for ensuring data protection within the meaning of Chapter V of Regulation (EU) 2016/679. 4a. However, where the crypto-asset service provider of the originator knows, suspects or has reasonable grounds to suspect that the crypto-asset service provider of the beneficiary does not apply adequate safeguards for ensuring data protection, the crypto-asset service provider of the originator shall proceed with the execution of the transfer without transmitting the information referred to in paragraph 1 and 2. 4b. Where the crypto-asset service provider of the originator knows or has reasonable grounds to believe that the crypto-asset service provider of the beneficiary, wherever established, is owned, managed or in anyway controlled by or accessible to a government entity, within the meaning of Article 2(b) of Regulation (EU, Euratom) 2020/2092, where clear risks of serious breaches of the principle of the rule of law or serious fundamental rights violations have been identified, the crypto-asset service provider of the originator shall proceed with the execution of the transfer without transmitting the information referred to in paragraph 1 and 2. 4c. Such information shall however be retained by the crypto-asset service provider of the originator. The service provider of the originator shall inform competent authorities of the execution of the transfer without delay and make the information available to them upon request. 4d. The information referred to in paragraph 1, points (a) and (c), and paragraph 2, point (a), shall not be attached directly to, or included in, the transfer of crypto-assets.
Amendment 238 #
Proposal for a regulation
Article 14 – paragraph 4 a (new)
Article 14 – paragraph 4 a (new)
4a. Crypto-asset service providers shall establish and maintain alternative procedures consistent with the objectives of this Regulation, including the possibility of not sending personally identifiable information. Those procedures shall be subject to appropriate review by competent authorities. EBA shall issue guidelines in accordance with Article 30 to specify the criteria for assessing whether the provider of the originator is able to protect personally identifiable information and the conditions for establishing alternative procedures to ensure the traceability of transfers, where the submission of information to the provider of the beneficiary shall be avoided.
Amendment 248 #
Proposal for a regulation
Article 14 – paragraph 6 a (new)
Article 14 – paragraph 6 a (new)
6a. Before transferring crypto-assets, the crypto-asset service provider or other obliged entity of the originator shall review the information referred to in paragraph 2 to verify that the beneficiary of the transfer is not an individual, entity or group subject to restrictive measures.
Amendment 250 #
Proposal for a regulation
Article 14 – paragraph 6 b (new)
Article 14 – paragraph 6 b (new)
6 b. Crypto-asset service providers and other obliged entities may rely on other crypto-asset service providers and other obliged entities, whether situated in a Member State or in a third country, to review the information on the beneficiary of a transfer to ensure compliance with any restrictive measures, provided that the applicable conditions laid down in Section IV of Directive (EU) 2015/849 are respected.
Amendment 254 #
Proposal for a regulation
Article 15 – paragraph 2
Article 15 – paragraph 2
Amendment 285 #
Proposal for a regulation
Article 16 – paragraph 4 a (new)
Article 16 – paragraph 4 a (new)
4a. Before transferring crypto-assets, the crypto-asset service provider or other obliged entity of the beneficiary shall review the information referred to in paragraph 2 to verify that the originator of the transfer is not an individual, entity or group subject to restrictive measures.
Amendment 287 #
Proposal for a regulation
Article 16 – paragraph 4 b (new)
Article 16 – paragraph 4 b (new)
4 b. Crypto-asset service providers and other obliged entities may rely on other crypto-asset service providers and other obliged entities, whether situated in a Member State or in a third country, to review the information on the originator of a transfer to ensure compliance with any restrictive measures, provided that the applicable conditions laid down in Section IV of Directive (EU) 2015/849 are respected.
Amendment 304 #
Proposal for a regulation
Chapter III – Section 2 a (new)
Chapter III – Section 2 a (new)
OBLIGATIONS ON INTERMEDIARY CRYPTO-ASSET SERVICE PROVIDERS Article 18xx (new) Retention of information on the originator and the beneficiary with the transfer Intermediary crypto-asset service providers shall ensure that all the information received on the originator and the beneficiary that accompanies a transfer of funds is transmitted with the transfer and that records of such information are retained and made available on request to the competent authorities.
Amendment 305 #
Proposal for a regulation
Article 18 a (new)
Article 18 a (new)
Article 18 a Measures to mitigate risks deriving from transfers involving privacy wallets and anonymising services Crypto-asset service providers or other obliged entities shall not facilitate any transfer of crypto-assets to or from privacy wallets, mixers or tumblers, or other anonymising services in relation to the transfer of crypto-assets.
Amendment 306 #
Proposal for a regulation
Article 18 b (new)
Article 18 b (new)
Amendment 307 #
Proposal for a regulation
Article 18 c (new)
Article 18 c (new)
Amendment 308 #
Proposal for a regulation
Article 18 d (new)
Article 18 d (new)
Article 18 d Assessment and reporting The intermediary crypto-asset service provider shall take into account missing information on the originator or the beneficiary as a factor when assessing whether a transfer of crypto-asset, or any related transaction, is suspicious, and whether it is to be reported to the FIU in accordance with Directive (EU) 2015/849.
Amendment 313 #
Proposal for a regulation
Article 21 a (new)
Article 21 a (new)
Article 21 a Cooperation among competent authorities The exchange of information among national competent authorities and with relevant third country authorities under this Regulation is subject to the provisions laid down in Directive (EU) 2015/849. Without prejudice to the provisions on cooperation contained in that Directive (EU) 2015/849, Member States shall ensure that the exchange of information among national competent authorities and with third countries authorities is conducted in accordance with the rule of law and the fundamental rights and principles recognised by the Charter of Fundamental Rights of the European Union.
Amendment 330 #
Proposal for a regulation
Article 30 – paragraph 1 a (new)
Article 30 – paragraph 1 a (new)
The EBA shall issue guidelines specifying technical aspects of the application of this Regulation to direct debits as well as the measures to be taken by payment initiation service providers under this Regulation, taking into account their limited role in the payment transaction.
Amendment 336 #
Proposal for a regulation
Article 31 a (new)
Article 31 a (new)
Article 31 a Transitional provisions 1. Where, due to the lack of technological capability, an obliged entity is unable to comply with the requirements laid down under this Regulation, it may request the competent authority to grant an additional transitional period to comply with the Regulation, provided that such request is duly justified. 2. The competent authority, after consultation of the EBA, may grant a transitional period up to 6 months, on a case-by-case basis, where duly justified by the lack of technological capability and the scale of operations of the obliged entity, and may require compensatory measures to restrict certain transfers of crypto-assets.
Amendment 337 #
Proposal for a regulation
Article 31 a (new)
Article 31 a (new)
Article 31 a Amendments to Directive (EU) 2015/849 1. Directive (EU) 2015/849 is amended as follows: (1) In Article 2 (1) (3), points (h), the following points are added: (ha) providers engaged in the transfer of crypto-assets; (3) In Article 3(19) the following point is added: (19a) ‘transfer of crypto-assets’ means a transfer of crypto-assets as defined in Regulation [please insert reference to Transfer of Funds Regulation(EU) 2015/847] 2. Member States shall bring into force the laws, regulations and administrative provisions necessary to comply with the previous paragraph by [please insert three months after the date of entry into force of this Regulation]. They shall immediately communicate the text of those provisions to the Commission.
Amendment 339 #
Proposal for a regulation
Article 32 – paragraph 1 a (new)
Article 32 – paragraph 1 a (new)
By [please insert 6 months after entry into force of this Regulation] providers of services relating to transfers of crypto- assets that are obliged entities under Directive (EU) 2015/849 shall adopt a rollout plan to carry out the phase-in implementation of this Regulation in accordance with guidelines issued by the EBA, in order to ensure full compliance with the obligations of this Regulation by [please insert 12 months after entry into force of this Regulation]. By [please insert 3 months after entry into force of the proposal] EBA shall adopt guidelines to specify the conditions to facilitate the phased-in implementation of this Regulation.