EU Parliament-commissioned report – Virtual currencies and terrorist financing

The EU Parliament’s internal Think Tank has published a study commissioned by Parliament’s special Committee on Terrorism (TERR) into virtual currencies (VCs) and terrorist financing (TF). Via TERR, the report may contribute to Parliament’s consideration of the treatment of VCs, particularly with regard to safeguards to prevent/detect the use of VCs in TF.

The 90 page report:

  • Explains VCs, covering basic definitions, decentralised and centralised VCs (Chapter 1);
  • Provides background on AML/Countering Terrorist Financing (CTF) efforts and VCs (Chapter 2);
  • Assesses the risks associated with VCs (Chapter 3);
  • Outlines the legal and regulatory mechanisms (covering Financial Action Task Force (FATF), the EU’s 5th Money Laundering Directive, and self-regulation) (Chapter 4);
  • Discusses pan-EU cooperation between law enforcement (e.g., Europol) and the role of public-private partnerships (Chapter 5); and
  • Makes policy/regulation recommendations (Chapter 6).
Cat Dankos
Cat Dankos
Regulatory Consultant
Email
+44 20 7466 7494

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