CoE calls for regulating virtual currency to fight money laundering
The body said Hungary is still being monitored and is required to present an annual report. Hungary has been scrutinised since September 2016 in terms of the efficacy of its measures taken against money laundering and the financing of terrorism.
More generally, the body called for stricter rules for service providers, including attorneys and accountants that are in a position to assist in illegal financial transactions and tax evasion. The practice of using cryptocurrencies poses a serious challenge, while conventional controls cannot be applied and member states show limited efficiency in their fight against money laundering and and the financing of terrorism, Moneyval said.