OSCE Hosts Workshop Aimed at Crypto Regulation in Eastern Europe
The Organization for Security and Co-operation in Europe has hosted a workshop in the face of growing demand for regulation in the rapidly expanding cryptocurrency space across Eastern Europe. Held in Vienna between October 9 and 11, this workshop focused on the strengthening of financial regulators’ ability to address the risks that virtual assets pose.
Regulatory Compliance in Focus
Regulatory representatives of Ukraine, Moldova, and Armenia got together to discuss the current issues of AML/CTF policies. Specialists underlined that one of the most important reasons for controlling VASPs is the possibility of illegal activity.
This workshop, provided through the hands-on sessions, gave participants practical tools for supervising VASPs and identifying suspicious activity-things so vital to enhancing compliance in the dynamic crypto landscape. It was organized by the OSCE’s Office of the Co-ordinator of Economic and Environmental Activities, or OCEEA.
Capacity Building for Financial Oversight
Vera Strobachova-Budway, Acting Head of the OCEEA’s Economic Governance Unit, saluted the importance of the workshop for strengthening the capacity of financial regulators. She indicated that such sessions are paramount to combating money-laundering and terrorism financing risks.
The move is part of a broader effort by the OSCE to foster best practices in crypto regulation across Eastern Europe, with support from donor nations like Germany, Italy, and the United States.
A Continuing Effort to Strengthen Crypto Investigations
This workshop comes as part of the OSCE’s previous work in enhancing the capacity of law enforcement authorities to deal with crypto-related crimes. In August, the organization provided a specialized training course in Warsaw to Armenian and Georgian law enforcement officials on how to counter blockchain obfuscation techniques normally used in illicit activities.
The OSCE continues to be at the forefront in letting Eastern Europe be adequately equipped to deal with the challenges and risks of an ever-growing crypto market by facilitating cooperation between regulators, law enforcement, and financial experts.
