EU Joins 8 Nations to Sign Warsaw Protocol on Crypto Crime

The new treaty modernizes the Warsaw Convention treaty, adding crypto assets to its scope and expanding the attributions of financial intelligence units over these assets, highlighting the importance of international cooperation and reducing response times for information requests between countries. The European Union and a group of other countries are stepping up their regulatory frameworks to deal with the rising adoption of cryptocurrency assets for illicit purposes and to finance terrorist activities. On Wednesday, the EU and 8 allied nations, including Georgia, Greece, Hungary, Luxembourg, Monaco, Montenegro, San Marino, and the United Kingdom, were the first subscribers to the Additional Protocol to the Council of Europe Convention on laundering, search, seizure, and confiscation of the proceeds from crime and on the financing of terrorism, commonly referred to as the “Warsaw…

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