The recent OSCE workshop brought together regulators from Ukraine, Moldova and Armenia to address the urgent need for crypto regulation in the face of growing financial risks.
Eastern Europe is doubling down on regulatory measures for crypto exchanges as the Organization for Security and Co-operation in Europe hosts a workshop aimed at improving compliance and mitigating financial risks in digital assets.
In a press release on October 11, the OSCE revealed that from October 9 to 11, it organized a workshop in Vienna aimed at strengthening the regulatory framework for virtual asset service providers in Ukraine, Moldova and Ukraine. Armenia.
The event, organized by the Office of the Coordinator of Economic and Environmental Activities of the OSCE, aimed to strengthen the capacity of participants to “mitigate the risks of money laundering and terrorist financing within the evolving ecosystem digital assets,” according to the press release. Led by OSCE financial regulation experts, the workshop featured a mix of discussions and interactive sessions designed to engage participants in practical compliance challenges.
“This workshop is an essential step in strengthening the capabilities of financial regulators to address the growing risks posed by virtual assets.”
Vera Strobachova-Budway, Acting Head of the OCEEA Economic Governance Unit
Key modules addressed pressing issues relating to VASP compliance, including anti-money laundering measures and terrorist financing strategies. Participants also received “practical tools for monitoring VASPs and analyzing suspicious activities,” equipping them with advanced skills to identify and mitigate risks, according to the press release.
OSCE Raises Standards for Crypto Regulation
The workshop marks a new step in the OSCE’s efforts to formalize best practices in crypto regulation, thereby fostering collaboration between regional regulators and financial experts. The initiative is part of a broader plan to regulate crypto businesses, supported notably by Germany, Italy and the United States.
Earlier in August, the OSCE also organized a three-day training in Warsaw to strengthen the crypto-investigation skills of Armenian and Georgian law enforcement agencies. This specialized session on “Combating Blockchain Obfuscation Techniques” was part of ongoing efforts to combat illicit activities facilitated by cryptocurrencies.
