EAG Chairman Calls for New Cryptocurrency Regulations

Yuri Chikhanchin, EAG chairman, emphasized the need for updated measures to address the misuse of cryptocurrencies in financing terrorism and corruption. During a workshop in Indore, he urged collaboration with the Asia-Pacific Group to develop effective strategies against these financial crimes and highlighted the urgency of preventive actions.

On Wednesday, EAG Chairman Yuri Chikhanchin highlighted the urgent need for new strategies to tackle the misuse of cryptocurrencies in illegal activities like terrorism and corruption.

Speaking at the 'Innovation Finance' workshop during the EAG meeting in Indore, Chikhanchin underscored the importance of focusing on virtual assets due to their increasing involvement in financial crimes. He noted that these issues were discussed at previous EAG forums and encouraged collaboration with the Asia-Pacific Group for effective solutions.

The meeting, attended by key international and national officials, concludes on November 29, and aims to create a unified approach to counter these emergent financial threats.

(With inputs from agencies.)