The report was presented by the European Monitoring Center for Drugs and Drug Addiction (EMCDDA). The agency insists that regulators should crack down on the growing use of darknet marketplaces to purchase illegal substances. Stronger anti-money laundering checks are needed for transactions made using cryptocurrencies. However, better police training may be more effective than outright bans, experts write in the report.
It is very important that users of exchanges and cryptomats can be identified when they cash out illegal proceeds, the report says. A complete ban on the use of cryptocurrencies will do little to curb activity on the dark web. Just like the closure of the Hydra site in 2022 had only short-term consequences, as alternative platforms appear in its place, EMCDDA specialists complain.
Law enforcement agencies should learn new investigative methods, explore the use of encrypted platforms, ways to track cryptocurrencies.
Earlier, the European Commission published a paper highlighting the benefits of the Metaverse, in particular the creation of new business opportunities and customer acquisition. There are fears that major players developing virtual worlds and metaverses, such as Meta Platforms, may block access to this emerging market for European small and medium-sized enterprises.
In March, the President of the European Central Bank (ECB) said that in the autonomy of EU payment systems, the digital euro should play an important role.
Source: Bits
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