Back Discussing potential pathways for legal regulation of virtual assets and virtual assets service providers with authorities of Montenegro

Discussing potential pathways for legal regulation of virtual assets and virtual assets service providers with authorities of Montenegro

Representatives of the institutions relevant for regulation of the virtual currencies and representatives of private sector, participated in a Workshop on regulatory framework for virtual assets and virtual assets service providers, organised on 8-9 March 2022, in Podgorica.

The objective of this workshop was to present the comments to the Draft Law on Cryptocurrencies and Blockchain and discuss recommendations for its improvement, particularly aiming to mitigate money laundering/terrorist financing risks in this area.

The participants were introduced to the latest international standards and best practices for prevention of money laundering and terrorist financing through use of virtual assets and new technologies. Main topics discussed encompassed definition of the terms and alignment with Financial Action Task Force (FATF) terminology, licensing and registration requirements for virtual asset service providers, as well as institutional framework and capacities for supervision of the sector.

The meeting was organised within the framework of the Action against economic crime in Montenegro, which is a part of the joint European Union/Council of Europe programme “Horizontal Facility for the Western Balkans and Turkey 2019 – 2022”.

Podgorica 8 - 9 March 2022
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