AI Summary of Regulation (EU) 2023/1113 of the European Parliament and of the Council of 31 May 2023 on information accompanying transfers of funds and certain crypto-assets and amending Directive (EU) 2015/849 (Text with EEA relevance)
This legislative instrument establishes a comprehensive framework setting out subject matter, scope and definitions (Chapter I) and imposes targeted obligations on payment service providers (Chapter II) and crypto‑asset service providers (Chapter III). It addresses customer due diligence, transaction monitoring, information duties, data protection and retention, and references principles such as ne bis in idem and de minimis.
Supervisory and enforcement arrangements, sanctions and monitoring powers are contained in Chapter VI, with implementing powers, derogations and other procedural provisions in Chapters VII–IX and final provisions in Chapter X. The text includes amending articles (eg Articles 19a, 19b, 24a) and is presented for signature by the Presidents of the European Parliament and the Council.
