ImportantEuropean Union Signs Warsaw Protocol with 8 Nations to Strengthen Crackdown on Crypto-Asset Related Crimes

The European Union has signed an 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 (the "Warsaw Convention") with 8 countries including Georgia, Greece, Hungary, Luxembourg, Monaco, Montenegro, San Marino, and the United Kingdom. This protocol extends its scope of application to virtual assets and Virtual Asset Service Providers (VASPs), with the aim of combating transnational crimes such as money laundering and terrorist financing committed using crypto-assets.

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