OSCE supports cross-regional asset management co-operation and training event on the management of crypto asset

The 9th Annual General Meeting (AGM) of the Balkan Asset Management Interagency Network (BAMIN) took place in Struga, North Macedonia on 18 September. The AGM brought together asset management agencies from across the OSCE area to discuss several aspects in asset management ranging from levels of policy to national interagency co-ordination. During the AGM, France and the United Nations Interregional Crime and Justice Research Institute (UNICRI) were introduced as new members of BAMIN.

This year North Macedonia holds the Presidency of BAMIN and it was also the first member of BAMIN to be peer-reviewed. The review is a good practice recognizing the need for legislative amendments and enhancing standard operational procedures. During the meeting, Montenegro announced its willingness to be peer-reviewed next year.

The importance of the new EU Directive 2024/1260 on asset recovery and confiscation as a reference on how to arrange asset management offices, databases and the scope of application for asset management legislation was highlighted in the presentation by the EU Directorate-General for Migration and Home Affairs EU. Further discussions touched upon BAMIN activities during 2024, national experiences on institutional co-operation for the effective management of cryptocurrency and the impact of national strategies and working groups on the development of asset management offices.

On 18 and 19 September, the AGM was followed by a training event focusing on the comprehensive management on crypto assets. The training agenda included elements on cryptocurrency basics, pre-seizure planning, good practices on seizure, short and long-term management of assets and realization of assets. The training offered case studies and practical training on how to transfer cryptocurrency into asset management office’s custody. Participants’ experiences and challenges on managing cryptocurrencies stressed the significance of information-sharing and relying on the professional network, which BAMIN can offer.

The support for BAMIN is organized as part of the OSCE extra-budgetary project “Strengthening Asset Recovery Efforts in the OSCE Region”, which is funded by Austria, Germany, Italy and the United States.