On 9 October 2025, the European Banking Authority (EBA) published a report on tackling money laundering and terrorist financing risks in Cryptoasset services, including what can be learned from recent supervisory cases across the EU and how competent authorities can strengthen their approach to supervision.

Key findings

The report summarises lessons learnt from actions taken by competent authorities and the EBA in identifying and managing money laundering and terrorist financing risks associated with crypto-asset businesses, both before and after the implementation of the Markets in Crypto-assets Regulation (MiCA).

The report also describes strategies used by some cryptoasset service providers and issuers to evade national anti-money laundering and counter financing of terrorism (AML/CFT) supervision including forum shopping and beneficial ownership structures, highlights the safeguards introduced by MiCA and the revised AML/CFT regime including enhanced supervisory powers, and identifies key elements that could underpin the application of this new EU framework such as enhanced supervisory co-operation.

Next steps

While the EBA will transfer its standalone AML/CFT powers and tasks to the Anti-Money Laundering Authority by the end of 2025, it highlighted in this report that it will still play a key role in the crypto sector through its MiCA mandate.