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CBI updates the beneficial ownership register FAQ
On 10 July 2025, the Central Bank of Ireland (CBI) updated the beneficial ownership register frequently asked questions page.
The FAQs cover the following topics:
European Union (Information accompanying transfers of Funds) Regulations 2025
On 10 July 2025, the European Union (Information accompanying transfers of Funds) Regulations 2025 were signed into law by Minister for Finance, Paschal Donohoe. The regulation implements Regulation 2023/1113 concerning information accompanying transfers of funds and crypto-assets which come into effect on 1 August 2025.
Publication of the Criminal Justice (Terrorist Offences) (Amendment) Bill 2025
On 17 July 2025, the Criminal Justice (Terrorist Offences) (Amendment) Bill 2025 was published, which gives full effect to Directive (EU) 2017/541 of the European Parliament and of the Council of 15 March 2017 on combating terrorism and replacing Council Framework Decision 2002/475/JHA and amending Council Decision 2005/671/JHA.
CBI publishes cross-industry guidance on operational resilience
On 17 July 2025, the CBI published its cross-industry guidance document on operational resilience (the guidance). The guidance document aims to:
Central Bank Act 1942 (Section 32D) Regulations 2025
On 23 July 2025, Mary Elizabeth McMunn, Deputy Governor of the CBI signed into law the Central Bank Act 1942 (Section 32D) Regulations 2025 the purpose of which is to proscribe levies to be paid by persons subject to regulation under the Central Bank Acts.
CBI publishes a research technical paper on the role of risk warnings, information order and salience in Crypto Assets
On 30 July 2025, the CBI published a research technical paper on the role of risk warnings, information order and salience in crypto assets.
The paper considers the role that behaviourally informed risk warnings play in the context of the growing popularity of crypto assets which has been partly fuelled by promotional content which highlight past returns while downplaying risks.
European Commission seeks feedback on the Digital Markets Act
On 3 July 2025, the European Commission launched its first review of Regulation (EU) 2022/1925 on contestable and fair markets in the digital sector (the DMA). The review seeks to understand whether specific aims of the DMA have been achieved, the impacts of the DMA on specific persons, and what modifications should be made to specified areas.
The deadline for submissions is 24 September 2025.
ECB and AMLA sign cooperation agreement
On 3 July 2025, the European Central Bank (ECB) and the European Anti- Money Laundering Authority (AMLA) signed a memorandum of understanding outlining a framework for cooperation and for the exchange of information in order to enhance supervisory effectiveness, maximisation of efficiency and the avoidance of duplicative effort.
European Commission adopts measures to cut EU taxonomy red tape for companies
On 4 July 2025, the European Commission adopted a set of measures to simplify the application of Regulation 2020/852 on the establishment of a framework to facilitate sustainable investment (EU taxonomy). The adopted measures seek to reduce the administrative burden on in-scope companies in the EU to prevent undermining their competitiveness while concurrently preserving core climate and environmental targets.
The main changes introduced are:
The simplification measures set out in the legislation will apply from 1 January 2026, covering the 2025 financial year. However, undertakings are also given the option to apply the measures beginning with the 2026 financial year where more convenient.
ESMA issues guidelines on supervisory practices to prevent and detect market abuse under MiCA
On 9 July 2025, the European Securities and Markets Authority (ESMA) published its guidelines on supervisory practices to prevent and detect market abuse under Regulation (EU) 2023/1114 on markets in crypto assets (MiCA) (the guidelines).
The guidelines require competent authorities to:
The guidelines apply to competent authorities of member states and will enter into force on 9 October 2025 (three months from publication).
ESMA warns investors to consider risks of unregulated products offered by regulated crypto assets entities
On 11 July 2025, the ESMA issued a statement warning investors of the risks that occur when authorised crypto-asset service providers (CASPs) offer both regulated and unregulated products and/or services.
In particular, ESMA notes that CASPs should consider specific issues when providing unregulated products and services, and CASPs should be particularly vigilant about avoiding client confusion regarding the protections attached to unregulated products or services.
ESMA guidelines on the criteria for assessing the knowledge and competence of staff at CASPs
On 11 July 2025, ESMA published its guidelines specifying the criteria for assessing the knowledge and competence of staff at CASPs who provide information or advice on crypto-assets and services under MiCA (the guidelines).
The guidelines set out:
Once the guidelines have been translated into all official EU languages, the guidelines will enter into force six months later.
ECB publishes third progress report on the digital euro preparation phase
On 16 July 2025, the ECB published its third progress report on the digital euro preparation phase. The progress report highlights the developments since December 2024 in the areas of:
The progress report also gives further details on design related aspects of the digital euro, specifically the digital euro app and offline functionality.
AMLA Work Programme 2025
On 16 July 2025, the AMLA published its 2025 work programme. This first work programme is centred around progress that AMLA has made so far in 2025 in its establishment, and priorities for the rest of the year.
With regard to progress for the first part of 2025. This included
AMLA’s priorities for the second half of 2025 include:
AMLA expects high standards against financial crime in crypto sector
On 15 July 2025, AMLA issued a notice stating that the supervision of CASPs features prominently in AMLA’s 2025 work programme and remains a priority. This is particularly the case as AMLA notes that CASPs are exposed to significant money laundering and terrorist financing risks due to their technological features, cross-border operations, and anonymity-enhancing capabilities.
Grandfathering periods decided by Member States under MiCA
On 22 July 2025, ESMA updated the list of grandfathering provisions as decided by member states under Article 143 of MiCA. Ireland has implemented a 12-month grandfathering period.
ESMA announces update to volume cap system
On 24 July 2025, ESMA announced that the volume cap system will change from a double volume cap mechanism to a single volume cap mechanism in October 2025 as part of the Review of Regulation (EU) 600/2014 on markets in financial instruments.
Under the new mechanism, the trading volume under the reference price waiver in the EU, as compared to the total aggregated trading volume in the EU over the previous 12 months for each equity and equity-like financial instrument, is limited to 7%. Where this limit is breached, trading venues are required to suspend the use of the waiver for the instrument concerned for three months.
EBA issues an opinion on AML/CFT risks affecting the EU’s financial sector
On 28 July 2025, the EBA issued an opinion addressing money laundering and terrorist financing risks affecting the EU’s financial sector. The EBA is mandated to issue an opinion addressing these risks every two years pursuant to Directive (EU) 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing.
Some of the key risks highlighted by the EBA are:
For more information on these topics please contact any member of A&L Goodbody's Financial Regulation Advisory team.
This publication provides an overview of certain legal and regulatory developments that may be of interest to certain entities. It does not purport to provide analysis of law or legal advice and is strictly for information purposes only.