Luxembourg MiCA (Markets in Crypto Assets) crypto requirements 2025
The EU's Markets in Crypto-Assets (MiCA) regulation, effective December 30, 2024, mandates that all crypto-asset service providers (CASPs) in Luxembourg obtain authorization from the Commission de Surveillance du Secteur Financier (CSSF) to continue operations. Luxembourg aligns with the MiCA framework, allowing for a transitional period until July 1, 2026, for CASPs to adapt to the new requirements.
Implementation Timeline:
- June 30, 2024: Provisions related to electronic money tokens (EMTs) and asset-referenced tokens (ARTs) become applicable across the EU, including Luxembourg.
- December 30, 2024: MiCA regulations become fully applicable across the EU, encompassing all CASPs in Luxembourg.
- December 30, 2024 – July 1, 2026: MiCA provides a transitional period until July 1, 2026, for CASPs to adapt to the new requirements and secure the necessary licenses from the CSSF.
To assist CASPs in Luxembourg with MiCA compliance, Scorechain offers comprehensive Anti-Money Laundering (AML) solutions tailored to both EU-wide and local regulatory standards.
How Scorechain Supports MiCA Compliance for CASPs in Luxembourg
- Mandatory Licensing: Luxembourgish CASPs must comply with MiCA’s EU-wide licensing requirements and register with the CSSF. Scorechain facilitates this process by helping CASPs maintain transparent records and demonstrate compliance with both MiCA and Luxembourg's specific regulatory obligations, ensuring smooth authorization processes.
- Enhanced Customer Due Diligence (CDD): Luxembourg regulations require CASPs to implement robust customer due diligence procedures to prevent money laundering and terrorist financing. Scorechain provides tools for wallet screening, transaction risk analysis, and monitoring, ensuring alignment with MiCA’s and Luxembourg’s stringent AML requirements.
- Reporting Obligations: In Luxembourg, CASPs are required to report suspicious activities to the CSSF. Scorechain’s reporting features enable CASPs to file Suspicious Activity Reports (SARs) efficiently, ensuring compliance with both MiCA and Luxembourg's AML reporting obligations.
- Internal Controls: Luxembourgish CASPs must establish robust internal controls under the country’s anti-money laundering framework. Scorechain offers customizable compliance workflows and risk management tools, enabling CASPs to meet MiCA’s requirements and Luxembourg’s specific regulatory expectations effectively.
- Regulatory Oversight: Scorechain’s analytics and reporting dashboards provide transparency for Luxembourg regulators like the CSSF, enabling them to supervise CASPs effectively. This helps CASPs align with MiCA while fostering trust with national authorities in Luxembourg.
Why Scorechain is the Right Choice for Luxembourgish CASPs
By integrating Scorechain’s AML solutions, CASPs in Luxembourg can:
- Ensure seamless compliance with both MiCA and local regulations.
- Streamline customer due diligence and risk management processes.
- Build trust with customers and regulators through operational transparency and robust reporting.
Scorechain empowers Luxembourgish CASPs to navigate the evolving regulatory landscape, ensuring compliance with MiCA while fostering growth and integrity in the Luxembourg crypto market.
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