Regulation (EU) 2023/1113 on information accompanying transfers of funds and certain crypto-assets is on the FinTech & Payments rulebook because its official title matches crypto-asset. Source: EUR-Lex and European Parliament procedure file; company-specific applicability still depends on your activities. Methodology
Regulation (EU) 2023/1113 on information accompanying transfers of funds and certain crypto-assets: what it means for FinTech & Payments
The Regulation (EU) 2023/1113 on information accompanying transfers of funds and certain crypto-assets is part of the EU rulebook for fintech & payments. Its subject matter covers crypto-asset — core to the sector. Here’s what the act does, why it’s on your radar, and how to see whether it affects your specific company.
- Act
- 32023R1113
- Type
- Regulation
- Stage
- Procedure completed
- Dated
- 2023-05-31
- Procedure
- 2021/0241(COD)
- Lead committee
- ECON, LIBE
What the act does
to extend the scope of Regulation 2015/847 on information accompanying transfers of funds to include transfers of crypto-assets made by Crypto-Asset Service Providers (CASPs). PROPOSED ACT: Regulation of the European Parliament and of the Council. ROLE OF THE EUROPEAN PARLIAMENT: the European Parliament decides in accordance with the ordinary legislative procedure and on an equal footing with the Council. BACKGROUND: until now, transfers of virtual assets, such as Bitcoins, have remained outside of the scope of EU legislation on financial services, exposing holders of crypto-assets to money laundering and…
Why it matters for FinTech & Payments
FinTech and payments firms face one of the EU's densest rulebooks — payment services, electronic money, crypto-assets and operational resilience. These are the EU laws most likely to apply to you.
Regulation (EU) 2023/1113 on information accompanying transfers of funds and certain crypto-assets sits in that rulebook because its subject matter covers crypto-asset. Whether — and how — it applies to a given business depends on that business’s activities, products and markets.
Does the Regulation (EU) 2023/1113 on information accompanying transfers of funds and certain crypto-assets apply to your company?
This act’s scope covers:
- crypto-asset
Does your business touch any of these?
The rest of the FinTech & Payments rulebook
Monitor this regulation
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Primary sources
The act’s summary is the European Parliament’s own procedure record; the sector connection is the act’s stated subject matter. Lex shows the law and the grounded connection — not legal advice. Data © European Union (Decision 2011/833/EU). Methodology.