According to Cointelegraph, Kosovo is advancing its financial literacy in cryptocurrency as local finance leaders participate in a multiday workshop. From Sept. 24 to Sept. 26, Kosovo’s Financial Intelligence Unit (FIU) leaders will join the CYBERKOP Action of the Octopus Project, an initiative from the Council of Europe, to hold a workshop on cryptocurrencies and the challenges associated with digital currencies.
The workshops aim to unite financial intelligence experts, law enforcement, prosecutors, and the Central Bank of Kosovo to strengthen local skills and knowledge on digital currencies and Virtual Asset Service Providers (VASPs). The workshop also seeks to provide these institutions with better tools for tracing and confiscating illicit digital currency transactions. The FIU, a primary financial department within the Kosovar government, maintains electronic communication with financial institutions and government agencies.
Another primary goal of the sessions is to deepen the understanding of existing legal frameworks around digital currencies and licensing aspects. The workshop also plans to cover components relating to operations and investigations, aiming to equip local Kosovar financial leaders with the skills to seize virtual assets and handle criminal cases involving cryptocurrencies, based on the Council of Europe’s guide on seizing cryptocurrencies.
Kosovo continues to face disputes over its legitimacy as a nation but receives significant support from both the European Union and the United States, which have been actively monitoring and regulating the crypto industry in their respective regions. The EU was one of the first regions globally to pass and implement a comprehensive regulatory package to govern the crypto space. Its Markets in Crypto-Assets Regulation (MiCA) came into effect in June 2023. The EU’s 27 member states have until 2026 to prepare local businesses and institutions to comply with MiCA laws, after which enforcement will be applied. Member states have been developing their own strategies for implementing the rules, with countries such as Ireland and Spain taking proactive measures to prepare digital asset firms within their jurisdictions for the future.
(This story first appeared on Binance)
