OSCE Launches Crypto Training Program for Ukrainian Officials

The Organization for Security and Co-operation in Europe (OSCE) has announced a three-day training program for Ukrainian officials to enhance their capabilities in investigating cryptocurrency and blockchain transactions.

Strengthening Crypto Investigations in Ukraine

During the training, 12 officials from the National Securities and Stock Market Commission of Ukraine participated in a comprehensive program focused on tracing illicit activities on blockchain networks.

The online training covered essential topics such as the basics of blockchain technology, the taxonomy of cryptocurrency assets, and specific methods used for investigating blockchain transactions.

The sessions also included interactive tracing exercises with Bitcoin (BTC) and Ethereum (ETH), allowing attendees to practice identifying transaction patterns and suspicious activities on the blockchain in real-time.

Crypto-Related Crimes on the Rise

Criminal activity on blockchain networks is on the rise, according to Maksym Mishalov Dragunov, assistant project officer at OSCE.

“Criminal activity on blockchain networks is rising,” he explained, highlighting the unique advantage of cryptocurrency in facilitating borderless, instantaneous transfers.

Increased Crypto Adoption in Ukraine

Ukraine has seen a significant increase in cryptocurrency adoption, particularly in the decentralized finance (DeFi) sector.

According to Chainalysis, a U.S.-based blockchain forensics firm, Ukraine experienced a nearly 362% increase in large institutional DeFi transactions exceeding $10 million in 2023.

This growth is attributed to the increasing use of cryptocurrency for cross-border transactions, contributing significantly to the country’s DeFi expansion.

‘A key driver of DeFi growth’ in Ukraine, large institutional transfers were also noted in Russia, Belarus, Poland, and Slovakia, further highlighting the region’s growing crypto adoption.

As the crypto landscape continues to evolve, it’s essential for law enforcement agencies to stay up-to-date with the latest trends and technologies.

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