OSCE hosts workshop aimed at crypto regulation in Eastern Europe

The OSCE’s latest workshop brought together regulators from Ukraine, Moldova and Armenia to address the urgent need for crypto regulations in the face of rising financial risks.

Eastern Europe is doubling down on regulatory measures against crypto exchanges as the Organization for Security and Co-operation in Europe hosts a workshop aimed at increasing compliance and reducing financial risks in the digital asset space.

In a press release dated October 11, the OSCE announced that it held a workshop in Vienna from October 9 to October 11 aimed at strengthening the regulatory framework for Virtual Asset Service Providers in Ukraine, Moldova, and Armenia.

Organized by the OSCE Office of the Coordinator of Economic and Environmental Activities, the event focused on improving participants’ skills in “mitigating the risks of money laundering and terrorist financing within the evolving digital asset ecosystem,” according to the press release. Led by OSCE financial regulation experts, the workshop featured a variety of discussions and interactive sessions designed to engage participants in practical adaptation challenges.

“This workshop is a vital step in improving the capacity of financial regulators to address the increasing risks posed by virtual assets.”

Vera Strobachova-Budway, deputy head of OCEEA’s economic management unit

Core modules addressed pressing issues related to VASP compliance, including anti-money laundering measures and counter-terrorism financing strategies. Participants were also given “hands-on tools to audit VASPs and analyze suspicious activity,” equipping them with advanced skills in identifying and mitigating risks, according to the press release.

OSCE raises standards for crypto regulation

The workshop marks another step in the OSCE’s effort to formalize best practices in crypto regulation, encouraging cooperation between regional regulators and financial experts. The initiative is part of a broader project aimed at regulating crypto businesses, supported by Germany, Italy and the US, among others.

In early August, the OSCE held a three-day training in Warsaw to improve the crypto investigation skills of Armenian and Georgian law enforcement agencies. This special session on “Combating blockchain obfuscation techniques” was part of ongoing efforts to combat illegal activities facilitated by cryptocurrencies.