1. By way of derogation from Article 36, with respect to cross-border correspondent relationships involving the execution of crypto-asset services, with a respondent entity not established in the Union and providing similar services, including transfers of crypto-assets, crypto-asset service providers shall, in addition to the customer due diligence measures laid down in Article 20, when entering into a business relationship, be required to:

(a) determine if the respondent entity is licensed or registered;

(b) gather sufficient information about the respondent entity to understand fully the nature of the respondent's business and to determine from publicly available information the reputation of the entity and the quality of supervision;

(c) assess the respondent entity's AML/CFT controls;

(d) obtain approval from senior management before establishing the new correspondent relationship;

(e) document the respective responsibilities of each party to the correspondent relationship;