At the request of the Central Bank of Kosovo, the Council of Europe organised a two-day workshop on the assessment and review of the Law on Crypto Assets bringing together representatives of the CBK, the Financial Intelligence Unit and Tax Administration.

The event provided a platform for discussion about the shortcomings and regulatory gaps in the Law on Crypto Assets which regulates Virtual Asset Service Providers, modalities for potential legislative amendments and the development of supervisory practices that ensure alignment with international standards.

Participants benefitted from a thorough presentation by the Council of Europe expert focusing on the key gaps and shortcomings vis-à-vis the relevant European and international standards, including the FATF Recommendation 15, the EU applicable Anti-Money Laundering directives, and the EU Markets in Crypto-Assets Regulation (MiCA).

Participants examined a wide range of regulatory topics, including licensing and authorisation requirements, governance standards, prudential and operational resilience requirements, consumer protection, and supervisory powers. Particular attention was given to anti-money laundering and countering terrorist financing obligations, market integrity safeguards, and mechanisms for institutional cooperation and information sharing among competent authorities. Moreover, participants discussed practical solutions to address identified deficiencies in the legal framework, focusing on strengthening the regulatory scope, supervisory oversight, and enforcement mechanisms.

This activity contributes to strengthening Kosovo’s regulatory and supervisory framework for virtual assets, enhancing the country’s capacity to mitigate risks related to money laundering, terrorist financing and financial market abuse, while supporting the safe development of the crypto-asset sector.

The activity was organised within the framework of the Action on Countering Corruption and Economic Crime funded and implemented by the Council of Europe.