Internet and social media services have been used by terrorist and extremist groups globally to disseminate hate and funds, says the Counter Extremism Project and advocates effective national and European regulation to counter the threats – including new challenges posed by crypto-currencies for terrorist purposes.
The domestic power-struggle in Venezuela between the acting regime leader, Nicolás Maduro, and opposition leader, Juan Guaidó, claiming presidency and calling for a free elections, is exacerbated by the geopolitical rivalry between Russia, supporting Maduro, and the US, supporting Guaidó, over the country’s fate.
The 5th EU Anti-Money Laundering Directive, in force as of 11 July 2018, includes amendments to the 4th AML Directive, among them improvements in the assessment of high-risk third countries. Moreover, the EU Commission has recently published a relevant methodology for identifying such countries with strategic deficiencies in combating money laundering and terrorist financing.
Cryptocurrencies are seen as bringing innovation to the payments-services sector; furthering financial inclusion; and facilitating greater efficiency in cross-border transactions. However, as with other financial products and services, cryptocurrencies are also exposed to financial crime risks. The following article provides some background in relation to cryptocurrencies in general, and some insights into ongoing regulatory approaches and discussions in Europe.