Portugal
Law 70/2025 of December 22 has been published , implementing EU Regulation on information on transfers of funds and crypto-assets
KEY ASPECTS
- Law 70/2025 implements Regulation (EU) 2023/1113 (“TFR”) into the Portuguese legal system and makes the sixth amendment to Law 83/2017, which establishes the general regime on the prevention of money laundering and terrorist financing (“PMLTF Law”).
- It identifies the Bank of Portugal as the TFR supervisory authority for payment service providers (“PSP”) and crypto-asset service providers (“CASP”) established in Portugal.
- The law incorporates into Portuguese law specific obligations for transfers of crypto-assets involving self-hosted addresses, imposing strengthened diligence and risk mitigation measures.
- It bolsters cooperation with the new Authority for Anti-Money Laundering and Countering the Financing of Terrorism (“AMLA”) and the European Banking Authority (“EBA”), updating the systematization of the PMLTF Law.