Article 16 Detection of missing information on the originator or the beneficiary

The crypto-asset service providermeans a crypto-asset service provider as defined in Article 3(1), point (15), of Regulation (EU) 2023/1114, where performing one or more crypto-asset services as defined in Article 3(1), point (16), of that Regulation; of the beneficiarymeans a person that is the intended recipient of the transfer of crypto-assets; shall implement effective procedures, including, where appropriate, monitoring after or during the transfers, in order to detect whether the information referred to in Article 14(1) and (2) on the originatormeans a person that holds a crypto-asset account with a crypto-asset service provider, a distributed ledger address or a device allowing the storage of crypto-assets, and allows a transfer of crypto-assets from that account, distributed ledger address, or device, or, where there is no such account, distributed ledger address, or device, a person that orders or initiates a transfer of crypto-assets; and the beneficiarymeans a person that is the intended recipient of the transfer of crypto-assets; is included in, or follows, the transfer or batch file transfermeans a bundle of several individual transfers of funds or transfers of crypto-assets put together for transmission; of crypto-assetsmeans a crypto-asset as defined in Article 3(1), point (5), of Regulation (EU) 2023/1114, except where falling within the categories listed in Article 2(2), (3) and (4) of that Regulation or otherwise qualifying as funds;.

In the case of a transfer of crypto-assetsmeans any transaction with the aim of moving crypto-assets from one distributed ledger address, crypto-asset account or other device allowing the storage of crypto-assets to another, carried out by at least one crypto-asset service provider acting on behalf of either an originator or a beneficiary, irrespective of whether the originator and the beneficiary are the same person and irrespective of whether the crypto-asset service provider of the originator and that of the beneficiary are one and the same; made from a self-hosted addressmeans a distributed ledger address not linked to either of the following:a crypto-asset service provider;an entity not established in the Union and providing services similar to those of a crypto-asset service provider;, the crypto-asset service providermeans a crypto-asset service provider as defined in Article 3(1), point (15), of Regulation (EU) 2023/1114, where performing one or more crypto-asset services as defined in Article 3(1), point (16), of that Regulation; of the beneficiarymeans a person that is the intended recipient of the transfer of crypto-assets; shall obtain and hold the information referred to in Article 14(1) and (2) and shall ensure that the transfer of crypto-assetsmeans any transaction with the aim of moving crypto-assets from one distributed ledger address, crypto-asset account or other device allowing the storage of crypto-assets to another, carried out by at least one crypto-asset service provider acting on behalf of either an originator or a beneficiary, irrespective of whether the originator and the beneficiary are the same person and irrespective of whether the crypto-asset service provider of the originator and that of the beneficiary are one and the same; can be individually identified.

Without prejudice to specific risk mitigating measures taken in accordance with Article 19b of Directive (EU) 2015/849, in the case of a transfer of an amount exceeding EUR 1 000 from a self-hosted addressmeans a distributed ledger address not linked to either of the following:a crypto-asset service provider;an entity not established in the Union and providing services similar to those of a crypto-asset service provider;, the crypto-asset service providermeans a crypto-asset service provider as defined in Article 3(1), point (15), of Regulation (EU) 2023/1114, where performing one or more crypto-asset services as defined in Article 3(1), point (16), of that Regulation; of the beneficiarymeans a person that is the intended recipient of the transfer of crypto-assets; shall take adequate measures to assess whether that address is owned or controlled by the beneficiarymeans a person that is the intended recipient of the transfer of crypto-assets;.

Before making the crypto-assetsmeans a crypto-asset as defined in Article 3(1), point (5), of Regulation (EU) 2023/1114, except where falling within the categories listed in Article 2(2), (3) and (4) of that Regulation or otherwise qualifying as funds; available to the beneficiarymeans a person that is the intended recipient of the transfer of crypto-assets;, the crypto-asset service providermeans a crypto-asset service provider as defined in Article 3(1), point (15), of Regulation (EU) 2023/1114, where performing one or more crypto-asset services as defined in Article 3(1), point (16), of that Regulation; of the beneficiarymeans a person that is the intended recipient of the transfer of crypto-assets; shall verify the accuracy of the information on the beneficiarymeans a person that is the intended recipient of the transfer of crypto-assets; referred to in Article 14(2) on the basis of documents, data or information obtained from a reliable and independent source.

1. the identity of the beneficiarymeans a person that is the intended recipient of the transfer of crypto-assets; has been verified in accordance with Article 13 of Directive (EU) 2015/849 and the information obtained pursuant to that verification has been retained in accordance with Article 40 of that Directive;

2. Article 14(5) of Directive (EU) 2015/849 applies to the beneficiarymeans a person that is the intended recipient of the transfer of crypto-assets;.