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The recent OSCE workshop brought together regulators from Ukraine, Moldova and Armenia to address the urgent need for crypto regulations in the face of growing financial risks.
Eastern Europe is doubling down on its regulatory measures for crypto exchanges as the Organization for Security and Cooperation in Europe hosts a workshop aimed at improving compliance and mitigating financial risks in the digital assets space.
On October 11 Press releaseThe OSCE revealed that from October 9 to 11 it convened a workshop in Vienna aimed at strengthening the regulatory framework for virtual asset service providers in Ukraine, Moldova and Armenia.
The event, organized by the OSCE Office of the Coordinator of Economic and Environmental Activities, focused on enhancing participants' capacity to “mitigate money laundering and terrorist financing risks within the evolving digital asset ecosystem,” according to the press release. Led by OSCE financial regulation experts, the workshop included a mix of discussions and interactive sessions designed to engage participants in practical compliance challenges.
“This workshop is a vital step in building the capacity 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 in VASP compliance, including anti-money laundering measures and terrorist financing strategies. Participants also received “practical tools to monitor VASPs and analyze suspicious activity,” equipping them with advanced skills to identify and mitigate risks, according to the news release.
OSCE raises standards for cryptocurrency regulation
The workshop marks another step in the OSCE's effort to formalize best practices in cryptocurrency regulation, fostering collaboration between regional regulators and financial experts. The initiative is part of a broader project aimed at regulating crypto companies, supported by Germany, Italy and the United States, among others.
In early August, the OSCE also held a three-day training in Warsaw to improve the cryptographic investigation skills of Armenian and Georgian law enforcement agencies. This specialized session on “countering blockchain obfuscation techniques” was part of ongoing efforts to combat illicit activities facilitated by cryptocurrencies.
