Dear colleagues,
In this issue, we look at four key regulatory developments that have a direct impact on the day-to-day work of compliance, anti-money laundering and data protection officers:
The European Banking Authority (EBA) specifies when crypto service providers must appoint a single point of contact for AML purposes. It also publishes ESG core indicators for assessing climate risks in the EU banking sector for the first time. The EU Commission is launching a targeted consultation on deepening the Capital Markets Union – an opportunity for compliance professionals to actively exert influence. And finally, ESMA presents concrete guidelines on how market abuse in the crypto sector can be effectively prevented under MiCA.
Table of Contents
- 1. ESMA publishes guidelines on the prevention of market abuse under MiCA
- 2.EBA defines criteria for central points of contact at crypto service providers
- 3. EBA publishes key indicators on climate risk in the banking sector
- 4. EU Commission launches consultation on the integration of capital markets
1. ESMA publishes guidelines on the prevention of market abuse under MiCA
Summary: On 29 April 2025, the European Securities and Markets Authority (ESMA) published guidelines for national supervisory authorities (NCAs) to prevent and detect market abuse in the crypto-asset space under the Markets in Crypto-assets Regulation (MiCA). The guidelines are based on experience with the Market Abuse Regulation (MAR) and take into account the specific characteristics of crypto-assets, such as the intensive use of social media and the cross-border nature of trading. The aim is to promote a uniform supervisory culture and establish effective supervisory practices. The guidelines will enter into force three months after their publication in all official EU languages. ESMA
Opinion: ESMA’s guidelines mark a turning point: crypto-asset markets will be systematically monitored from a market abuse perspective for the first time. For compliance departments in MiCA-regulated companies, there is an immediate need for action: existing monitoring mechanisms must be critically scrutinized and adapted to the special features of the crypto sector – for example with regard to social media-based market manipulation or the international transaction structure. It is also necessary to expand employee training, particularly on insider trading and price manipulation in the digital space. The guidelines provide concrete checkpoints for this, which should now be incorporated into internal control plans.
2.EBA defines criteria for central points of contact at crypto service providers
Summary: The EBA has published new criteria that determine when providers of crypto-assets must appoint a central point of contact. The aim is to strengthen the fight against money laundering and terrorist financing, especially for cross-border services. The criteria take into account factors such as the transaction volume, the type of services offered and the geographical reach of the providers.
Opinion: The introduction of a mandatory single point of contact by the EBA is more than a formal step – it ensures that national supervisory authorities have direct access to information from crypto service providers in AML matters. For compliance officers in crypto companies, this means checking now whether their own organization is affected by the regulation. The central point of contact must not only be nominally appointed, but must also have sufficient authority and resources to process regulatory inquiries promptly. Companies should integrate appropriate structures and escalation processes into their AML frameworks.
3. EBA publishes key indicators on climate risk in the banking sector
Summary: The EBA has published an ESG dashboard that provides key indicators for assessing climate risks in the EU/EEA banking sector. Based on banks’ ESG disclosures under Pillar 3, the dashboard covers both transitional and physical climate risks. It serves as a benchmarking tool and supports banks and supervisory authorities in integrating climate risks into their risk management processes.
Opinion: The EBA’s ESG dashboard provides concrete, comparable data on climate risks in the European banking sector for the first time – and thus brings transparency to a risk area that has been difficult to measure to date. This makes it necessary for compliance and risk management units to critically compare their own risk reports, particularly under Pillar 3, with the published benchmarks. Furthermore, the integration of ESG risks should not be seen as a purely regulatory issue, but should also be incorporated into lending processes, product development and internal controls. Disclosure requirements are likely to increase further – early adaptation is therefore necessary.
4. EU Commission launches consultation on the integration of capital markets
Summary: The European Commission has launched a targeted consultation to gather feedback on obstacles to the integration of EU capital markets. This initiative is part of the Savings and Investment Union strategy, which aims to make the EU financial system more efficient and promote investment. The consultation is aimed at a wide range of stakeholders, including financial institutions, regulators and consumer organizations.
Opinion: The EU Commission’s targeted consultation is a strategic signal: the harmonization of capital markets is to be accelerated. This means two things for compliance officers. Firstly, the fragmentation of supervision will be reduced – which will create more consistent regulatory requirements in the medium term. Secondly, there is now a rare opportunity to communicate regulatory realities and problem areas directly to legislators. Institutions should identify internally which regulatory interfaces are particularly burdensome or inefficient – and actively include these points in the consultation. The contribution of compliance expertise can help to shape practical regulation.
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We wish you a successful week.
Your Riscreen team