OSCE-supported regional workshop in Minsk promotes best practices and effective regulations in averting anti-money laundering risks in the use of cryptocurrencies

Practitioners from Belarus, Georgia, Moldova and Ukraine completed a three-day OSCE-supported workshop in Minsk on 26 September 2019, which focused on best practices and effective regulations to counter money laundering risks in the use of cryptocurrencies, and the criminalization of crypto-exchanges.

The workshop was organized by the Office of the Co-ordinator of OSCE Economic and Environmental Activities (OCEEA) in co-operation with the UN Office on Drugs and Crime (UNODC), EU Action on Drugs and Crime (EU-ACT) and with the support of the Ministry of Internal Affairs of the Republic of Belarus.

Participants discussed current regulations concerning cryptocurrencies. They compiled a set of counter-measures which can be employed by national authorities to regulate the use of cryptocurrencies. The workshop also provided a basis for future collaboration in the sector.

This workshop was a continuation of previous discussions on corrupt practices related to the “new digital economy”. It follows up on a workshop on combating the misuse of the Darknet and cryptocurrencies in corruption and financial crime schemes in June 2018 in Vienna and a workshop on the challenges of combating corruption and financial crimes that make use of new technologies in November 2018 in Minsk. Both events were also co-organized by the OCEEA and UNODC.