The National Bank of Moldova launched the process of developing the prudential legal framework for virtual assets, with the objective of identifying the key components and adopting the best practices in the field, first deputy governor Petru Rotaru stated when presenting the Report on the National Assessment of Money Laundering and Terrorist Financing Risks Related to Virtual Assets and Virtual Asset Service Providers, IPN reports.
In his speech, the first deputy governor of the NBM highlighted the need for a strategic approach in managing the risks associated with virtual assets. "In a period of accelerated global transformations, in which technology is redefining the financial system, we are facing challenges that require a strategic approach, based on transparency, innovation and strengthening of supervisory and control mechanisms," said Petru Rotaru.
With reference to the European path of the Republic of Moldova, Petru Rotaru underlined the active role of the National Bank of Moldova in strengthening the regulatory framework.
In his closing remarks, the first deputy governor reiterated the need for a joint effort to implement the recommendations included in the report: "I urge financial institutions, regulators and international partners to cooperate in the implementation of the recommendations."
According to Petru Rotaru, only through joint efforts will it be possible to align with the European regulatory framework on crypto-assets, protect the integrity and stability of the financial system of the Republic of Moldova in the face of the challenges emerging in this field.
The report is aimed at developing a system to prevent and combat money laundering and terrorist financing. It contributes to protecting the integrity of the national financial system, optimizing the allocation of resources to competent public authorities and reporting entities, ensuring the application of mitigation measures, proportionate to the identified risks.
The event was organized by the Service for the Prevention and Combating of Money Laundering, in cooperation with the Office of the Co-ordinator of OSCE Economic and Environmental Activities, and brought together representatives of regulatory and supervisory authorities, the banking and non-banking financial sectors, as well as international experts.
