Back Council of Europe supports the Kosovo* Assembly on introducing the legislation on virtual assets

Council of Europe supports the Kosovo* Assembly on introducing the legislation on virtual assets

The Council of Europe/EU joint “Project against Economic Crime in Kosovo” (PECK III) is supporting the Parliamentary Working Group on the legal initiative aiming at regulating Crypto-assets in view of its alignment and implementation with the evolving international standards and good practice in the Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) area.

In this respect, 25 representatives from the Assembly, line ministries, Financial Intelligence Unit, Central Bank, Police, Tax administration, Customs, Chamber of Industry, Chamber of Commerce, Council of Europe experts participated in the second follow-up Parliamentary Working Group discussions on the review of the draft law on Crypto-assets. The PECK III project has previously supported the organisation of the first consultation table on 7-8 March 2023.

The aim of the event was to provide to Parliament advice and recommendations on improving the draft-law in line with international standards and good practice. Participants discussed the regulation of virtual assets and virtual assets service providers and enforcement mechanisms to ensure implementation of AML/CFT legislation. Council of Europe has formulated through its experts a set of recommendations which were provided to Parliament to further strengthening the draft law on Crypto-Assets and support the competent authorities in the implementation of the new regulation.

The activity was organised within the framework of the “Project against Economic Crime in Kosovo” (PECK III), jointly funded by the European Union and the Council of Europe and implemented by the latter.

Pristina, Kosovo* 29 - 30 May 2023
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*This designation is without prejudice to positions on status, and is in line with UNSCR 1244 and the ICJ opinion on the Kosovo Declaration of Independence.