(Berlin) – The discussion concerning the risk of cryptocurrencies being misused for the financing of terrorism and other nefarious purposes has intensified over the last years. Both the Financial Action Task Force (FATF) as well as the European Union have been developing the regulatory framework for this new asset class. Following the transposition of the 5th Anti Money Laundering Directive (AMLD5) into national law, the European Union has taken significant steps towards further regulation in this area.
Given that important gaps remain—notably with regards to efforts to counter the financing of terrorism (CFT)—the European Financial Stability, Financial Services and Capital Markets Union (FISMA) is currently conducting a public consultation process to assess the possibility, shape, and scope of a new regulatory framework for cryptocurrencies.
The Counter Extremism Project (CEP) and Berlin Risk, a specialized business and political risk consultancy based in Berlin, have been cooperating on this subject for the past year as part of CEP’s workstream on CFT and new technologies.
A potential new regulatory framework for cryptocurrencies within the European Union will very likely have a significant impact on this emerging tech sector, resulting in an overall strengthening of the European CFT defenses.
CEP and Berlin Risk cordially invite you to join us for a webinar addressing this process.
The webinar will be held in English.
Date: Wednesday, June 10, 2020
Time: From 10:00 am EDT / 15:00 BST / 16:00 CEST
to 12:00 pm EDT / 17:00 BST / 18:00 CEST
Speakers: Gabriel Hugonnot, Policy Officer and seconded National Expert at the Financial Crimes Unit of DG JUST,
who will outline the current efforts of the European Union
Kayla Izenman, Research Analyst and expert on cryptocurrencies at the Royal United Services Institute (RUSI), who will present her recent work on the subject
Dr. Hans-Jakob Schindler, Senior Director CEP, who will present the latest CEP/Berlin Risk Policy Paper “Further Development of European Union Regulatory Framework for Cryptocurrencies Necessary to Mitigate Risks of Terrorism Financing”
Moderator: Jennifer Hanley-Giersch, Managing Partner, Berlin Risk
If you like to take part in the webinar, please register here:
To read the CEP-Berlin Risk report Cryptocurrencies as Threats to Public Security and Counter- Terrorism: Risk Analysis and Regulatory Challenges, please click here.