The Council of Europe organised a two-day workshop on “Preventing the abuse of virtual assets – tools and comparative experiences against economic crime” on 24-25 October 2023 in Strasbourg (France).
This inter-regional workshop brought together more than 50 representatives of Ministries, Financial Intelligence Units, Central Banks, Prosecutors’ offices, Anti-corruption agencies and other institutions from 12 jurisdictions including Central Asian countries.
The aim of the event was to increase the practical knowledge and awareness of the potential misuse of virtual assets for illicit activities and to discuss regulation and best practice in introducing risk mitigation measures.
Presentations by the Financial Intelligence Units of Bulgaria, Lithuania and Poland, as well as by the Central Bank of Ireland, gave participants the opportunity to learn first-hand experiences about the practical challenges and advantages of the various alternative regulatory models for virtual assets service providers.
Participants discussed the application of international standards, alternative regulatory, institutional frameworks and common potential risks for the misuse of virtual assets for economic crime purposes, and issues related to the freezing, seizure and recovery of virtual assets.
The workshop was co-organised by the Action “Promoting Transparency and Action against Economic Crime” of the Central Asia Rule of Law Programme 2020-2024, a joint initiative co-funded by the European Union and the Council of Europe and implemented by the Council of Europe.