Planned Amendment to the AML Decree

With regard to the upcoming amendment of the AML Act and the imminent establishment of the Union agency AMLA (i.e., the European Union Anti-Money Laundering Authority), the Czech National Bank is submitting a proposal to amend AML Decree No. 67/2018 Coll., into which these changes will be reflected.

This proposal adjusts the list of institutions subject to the supervision of the Czech National Bank, now including providers of services related to virtual assets, with reference to § 2(1)(b), point 15 of the AML Act.

There is also an expansion of the obligations of these institutions to include the requirement to consider the general guidelines and recommendations issued by AMLA, and a new factor is introduced for determining the client’s risk profile, which is the transfer of virtual assets to or from an unhosted address.

Furthermore, the new § 25b of the AML Act, which deals with special provisions for providers of services related to virtual assets, is reflected. Specifically, a reference to § 25b(3) of this Act is added, which specifies additional obligations for providers of services related to virtual assets that must be fulfilled before establishing a correspondent relationship with a person who is not established in a member state of the European Union.

The proposal assumes that the decree will come into effect simultaneously with the amendment to the AML Act, i.e., on December 30, 2024.

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