IMPORTANT: This article analyzes AML/FT audits for crypto projects and crypto-asset service providers in accordance with the regulatory framework in effect at the time of publication. Currently, any audit, CASP application, risk matrix, KYC/KYB review, blockchain traceability, or anti-money laundering program must be reviewed on a case-by-case basis in accordance with the MiCA Regulation, Regulation (EU) 2023/1113 on fund transfers and crypto-assets, the European AML/CFT package, Spanish anti-money laundering regulations, and the current guidelines issued by the CNMV, SEPBLAC, ESMA, EBA, and other competent authorities.
Crypto regulation in Europe has taken a significant leap forward with the entry into force of the MiCA Regulation, published by the European Commission. This framework reclassifies cryptoasset service providers as Crypto Asset Service Providers (CASP) and requires them to meet much stricter compliance standards, particularly regarding anti-money laundering (AML) and counter-terrorism financing (CTF).
These obligations are complemented by the Sixth Anti-Money Laundering Directive (6AMLD), which strengthens corporate criminal liability. In Spain, SEPBLAC is reinforcing its supervision of crypto operators, in line with the future AMLA.
In this new regulatory environment, AML/CTF audits are no longer a technical recommendation: they are a mandatory legal requirement to operate in Europe.
What does AML/CTF regulation currently require for crypto projects?
Compliance obligations for blockchain projects have expanded considerably. Key requirements include:
Enhanced user identification and verification (KYC/KYB)
This includes identity verification, analysis of economic activity, financial documentation, and checks against international sanctions lists.
Risk matrices aligned with European parameters
ESMA has published technical standards on its official website requiring users, transactions and geographies to be classified according to their level of risk.
Full traceability of blockchain transactions
CASPs must monitor crypto transfers using specialised tools capable of detecting illicit patterns.
Ongoing transaction monitoring
Simple customer identification is no longer sufficient: regulations require monitoring their activity over time.
Reporting of suspicious transactions
Reports must be submitted through the official SEPBLAC channels, using formats set out by Spanish regulation.
What does a crypto AML/CTF audit involve?
An AML/CTF audit assesses whether a crypto project’s systems comply with MiCA and European regulations. It includes:
Business Model Analysis
Assessment of the type of assets, volume, functionality, involved jurisdictions and level of risk exposure.
Comprehensive literature review
Including AML policies, risk matrix, procedures manual, onboarding manual and monitoring criteria.
Technical Assessment of Traceability
This is where Cryptoveritas360, our technology partner, comes in, providing:
- smart contract audit
- blockchain forensic analysis
- on-chain metrics
- risk detection in wallets and protocols
- exposure testing for laundering through clustering and advanced tools
Operational Tests and Simulations
Assessment of how the team responds to real risk scenarios:
- suspicious transactions
- irregular transactions
- changes of jurisdiction
- unexpected activity in monitored wallets
Final Report and Remediation Plan
The outcome includes a roadmap to align the project with MiCA and European AML rules.
At this stage, our technology partner Cryptoveritas360 participates, providing smart contract audits, forensic analysis and advanced on-chain tools.
Projects that require an AML/CTF audit
- Exchanges
- Custodians and wallet providers
- DeFi platforms with an identifiable team
- Tokenisation providers and NFT marketplaces
- Fintechs with crypto services
- Companies applying for a CASP licence
- Operators managing staking, lending or financial products based on blockchain
Consequences of non-compliance
Spain will be one of the strictest jurisdictions. Consequences may include:
- Significant fines.
- Freezing of funds.
- Loss of CASP licence.
- Administrative investigations.
- Enhanced criminal liability under 6AMLD.
How can we help you at IN DIEM Abogados?
At IN DIEM, we combine legal expertise and advanced technical support with Cryptoveritas360:
- Comprehensive AML/CTF audits
- Preparation for CASP licences
- Drafting AML policies and manuals
- Defence in inspections
- Training and ongoing support
- Investor due diligence
Preguntas frecuentes sobre auditorías AML/FT para proyectos cripto
¿Por qué son importantes las auditorías AML/FT tras la entrada en vigor de MiCA?
Porque MiCA eleva el nivel de exigencia regulatoria para los proveedores de servicios de criptoactivos. Los proyectos deben demostrar que cuentan con controles internos, sistemas de identificación de clientes, trazabilidad blockchain, gestión de riesgos y procedimientos adecuados para detectar y reportar operaciones sospechosas.
¿Qué obligaciones AML/FT afectan a los proyectos cripto?
Entre las principales obligaciones se encuentran la identificación y verificación de clientes, el análisis de riesgos, el monitoreo continuo de operaciones, la trazabilidad de transacciones blockchain, la detección de wallets de riesgo y el reporte de operaciones sospechosas a través de los canales oficiales correspondientes.
¿Por qué es necesaria la trazabilidad blockchain?
La trazabilidad blockchain permite analizar el origen, recorrido y destino de los criptoactivos. Es fundamental para detectar fondos procedentes de actividades ilícitas, wallets sancionadas, patrones sospechosos, operaciones fragmentadas o conexiones con protocolos y direcciones de alto riesgo.
¿Qué incluye una auditoría AML/FT para un proyecto cripto?
Puede incluir el análisis del modelo de negocio, revisión de políticas internas, manuales AML, matriz de riesgos, procedimientos de onboarding, sistemas de monitoreo, trazabilidad on-chain, pruebas operativas, simulaciones de riesgo y un informe final con plan de remediación.
¿Qué proyectos necesitan una auditoría AML/FT?
Pueden necesitarla exchanges, custodios, proveedores de wallets, plataformas DeFi con equipo identificable, tokenizadoras, marketplaces NFT, fintech con servicios cripto, empresas que solicitan licencia CASP y operadores de staking, lending o productos financieros basados en blockchain.
¿Qué papel tiene SEPBLAC en la supervisión de operadores cripto?
SEPBLAC es la autoridad española encargada de la supervisión en materia de prevención de blanqueo de capitales y financiación del terrorismo. Los operadores cripto sujetos a obligaciones AML deben contar con procedimientos adecuados y reportar operaciones sospechosas cuando proceda.
¿Qué consecuencias puede tener no cumplir con las obligaciones AML/FT?
El incumplimiento puede provocar multas, bloqueo de fondos, pérdida o denegación de licencia CASP, investigaciones administrativas, daños reputacionales y, en los supuestos más graves, responsabilidad penal para la entidad o sus responsables.
¿Por qué conviene combinar asesoramiento legal y análisis técnico?
Porque el cumplimiento AML/FT en cripto exige interpretar la normativa y, al mismo tiempo, verificar sistemas tecnológicos, smart contracts, wallets, protocolos y métricas on-chain. La combinación de abogados especializados y expertos técnicos permite preparar auditorías más sólidas y adaptadas al entorno blockchain.
Experts in New Technologies and Crypto Assets
The world of crypto-assets and new technologies is constantly evolving, and companies need more than ever a legal partner that combines technical, tax and regulatory expertise. At In Diem Abogados, we have developed a comprehensive, specialised approach that sets us apart from other traditional firms.
Our firm offers comprehensive advice in all areas related to crypto-assets and blockchain, including:
- Law and Cryptocurrencies: we advise on Bitcoin, Altcoins, ICOs, NFTs, and blockchain-based projects, providing legal security from creation to the operation of any crypto-asset.
- Crypto Tax and Taxation: we offer expert guidance on taxation of cryptocurrency investments, buy-sell transactions, staking, DeFi, and airdrops, ensuring compliance with current regulations.
- Crypto Tax Reports: we offer different services to issue Cryptocurrency Tax Reports for your personal income tax return, or to correct errors in cases of discrepancies or mistakes.
- Registration and Compliance with the Bank of Spain: We guide cryptocurrency exchange and custody platforms through the registration and regulatory compliance process, ensuring safe and legal operations.
- Adaptation to the MiCA Regulation: we help crypto companies comply with the new European regulation, covering everything from obtaining licenses to implementing anti-money laundering (AML) policies, consumer protection, and compliance auditing.
- Fraud on Web Platforms with Cryptocurrencies. Criminal: we offer legal defense and recovery strategies against fraud or scams on exchanges, wallets, or any digital investment platform.
In an increasingly complex and competitive regulatory environment, having a firm that understands both technology and law is key to minimizing risks and seizing opportunities. In Diem Abogados, in collaboration with its technology partner Cryptoveritas 360, does not only advise: it accompanies, implements, and ensures that your crypto company complies with regulations, integrates secure technological solutions, and thrives in the digital ecosystem.
We guarantee the best possible outcome, whatever your case.
- Personalized and professional service
- Advice on Taxation and Regulatory Compliance
- Assistance in tax, judicial, or other proceedings
- 24-hour contact with your expert lawyer
- Absolute confidentiality
Lawyers Specializing in Cryptocurrencies: European Union, Latin America Spain and International Services
Abogados IN DIEM has a team with experience in roles such as magistrate, state attorney, prosecutor, and university professor, which will give you peace of mind and confidence, knowing you have the best team—one that is competitive and highly qualified to achieve your goals and meet your needs.
We are at your disposal for anything you need. You can reach us via IN DIEM Lawyers Phone (+34) 916 353 892. For urgent cases, you can contact us on IN DIEM 24-Hour Emergency Lawyers Phone: (+34) 610 667 452.
Did you know that Abogados IN DIEM offers online and expedited services?
We offer our clients the option of receiving assistance via video call or videoconference, as well as by phone, depending on their preference, so that the assistance is as personalized as possible, provided immediately, and without the need to travel. This service is complemented by communication via email, which facilitates the review and delivery of documentation.
In addition, for businesses and individuals, IN DIEM Abogados offers urgent services and 24-hour support for matters that require a quick response.
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