OSCE hosts workshop on mitigating money laundering and terrorism financing risks in the evolving digital asset ecosystem

From October 9 to 11, the OSCE hosted the "Virtual Asset Service Providers regulation support framework" workshop, bringing together various practitioners from Ukraine, Moldova, and Armenia. The event, held in Vienna, was built around strengthening knowledge and best practices on the regulation of Virtual Asset Service Providers (VASPs). Organized by the Office of the Co-ordinator of OSCE Economic and Environmental Activities (OCEEA), the event aimed to enhance the participants’ ability to mitigate money laundering and terrorism financing risks within the evolving digital asset ecosystem.

The workshop, led by two of the leading OSCE experts on financial regulation, took the participants through high-level discussions and interactive activities.

“This workshop is a vital step in building the capacity of financial regulators to address the growing risks posed by virtual assets,” said Vera Strobachova-Budway, Acting Head of the Economic Governance Unit at OCEEA. “The skills and knowledge shared here will contribute significantly to the development of robust regulatory frameworks,” she added.

The workshop contained modules highlighting key issues in VASP compliance practices, including information on anti-money laundering (AML) and counter-terrorism financing. The training session provided hands-on tools for supervising VASPs and analysing suspicious activity, equipping participants with advanced skills in identifying and mitigating risks. One interactive component included participants simulating crypto theft through an application on their mobile phone.

The workshop is crucial in the formation of new best practices in virtual asset management and the formalization of varying expertise and regional perspectives on the topic. Already, there is a material application: one attendee is currently assisting with the drafting of a law aimed at regulated virtual assets.

By strengthening knowledge and existing practices between regional regulators and financial professionals, the workshop supported the OSCE participating States in developing robust policies that align with existing international standards. The insights gained during the workshop will support ongoing efforts to create a transparent and functional virtual asset regulatory framework.

This workshop was organized within the framework of the extra-budgetary project “Innovative Policy Solutions to Mitigate Money-Laundering Risks of Virtual Assets”, implemented by the Office of the Co-ordinator of OSCE Economic and Environmental Activities. The project is financially supported by Germany, Italy, Poland, Romania, the United Kingdom and the United States.