Europe Signs Pact to Seize Crypto Used in Crime

The EU joined eight nations in signing an addition to the Warsaw Convention that targets crypto assets linked to money laundering and terrorist financing.

Georgia, Greece, Hungary, Luxembourg, Monaco, Montenegro, San Marino and the UK became the first signatories. The protocol introduces urgent seizure powers without prior notice and requires special units to handle virtual assets.

Council of Europe Secretary General Alain Berset said the move strengthens cross-border recovery of criminal proceeds and protects democratic institutions. Financial intelligence units now gain authority to freeze suspicious crypto transfers.

Assets above €10,000 will be shared among participating countries, and states are encouraged to repurpose confiscated holdings for public benefit. The provisions were adopted in May 2026.

Based on information from cryptonews.net