The European Banking Authority (EBA) is the European regulatory body responsible for addressing weaknesses in the European banking industry. It has released two sets of guidelines, including specific guidelines for Payment Service Providers (PSP) and Crypto Asset Service Providers (CASP). On November 14th, the EBA released guidelines that specify the measures that PSP and CASP must take when transferring funds or cryptocurrencies to comply with the EU and national restrictions. According to the EBA, these guidelines ensure the implementation of EU and national sanctions. EBA believes that weaknesses in controls, internal policies, and procedures may pose legal and reputational risks to financial institutions, including PSP and CASP. In addition, the weak links of financial institutions in these areas may also "weaken" the effectiveness of the EU's restrictive measures system.