On 24-25 October 2023, the Council of Europe's Economic Crime and Cooperation Division (ECCD) organised a two-day workshop on “Preventing the abuse of virtual assets – tools and comparative experiences against economic crime” in Strasbourg, France.

This inter-regional workshop brought together more than 50 representatives of Ministries, Financial Intelligence Units, Central Banks, Prosecution, Anti-corruption Authorities and other Institutions from 12 jurisdictions, including Central Asian and Southern Mediterranean jurisdictions and Kosovo*. The aim of the event was to increase the practitioners’ awareness and practical knowledge on the misuse of virtual assets for illicit activities, as well as provide a platform for exchanging experience on existing regulatory measures and good practices in introducing risk mitigating measures. 

The workshop allowed to discuss the practical implementation of international standards related to virtual assets and virtual asset service providers, alternative regulatory and institutional frameworks, common potential risks for the abuse of virtual assets for economic crime purposes, as well as issues related to freezing, seizure and recovery of virtual assets. Furthermore, contributions by the Financial Intelligence Units of Bulgaria, Lithuania and Poland, as well as by the Central Bank of Ireland, gave participants an opportunity to learn about first-hand experiences in regard to the practical challenges and advantages of the various alternative regulatory models for Virtual Assets Service Providers, their monitoring and supervision, and possible preventive and enforcement measures to be taken. 

Additionally, participants were guided through a number of case studies which allowed them to get a better understanding on how perpetrators could misuse the virtual assets. Last but not least, they could also enhance their knowledge on existing practical tools allowing to identify warning signs of potential illicit acts. 

The workshop was jointly organised by the Central Asia Rule of Law Project “Promoting Transparency and Action against Economic Crime”, the South Programme V Project “Promotion of good governance: fight against corruption, money laundering and financing of terrorism in the Southern Mediterranean”, and "Project against Economic Crime in Kosovo” all of which are joint endeavours of the EU and the Council of Europe.

_{*All references to Kosovo, whether the territory, institutions or population, in this text shall be understood in full compliance with United Nations Security Council Resolution 1244 and without prejudice to the status of Kosovo.}