EU Parliament urges stronger action on crypto-linked corruption risks

The European Parliament has urged the European Commission to step up its response to corruption risks tied to cryptocurrencies, opaque governance structures and the misuse of digital technologies, Cointelegraph reported. On Oct. 8, the Parliament adopted a resolution setting out priority areas to be reflected in the Commission’s anti-corruption rules. Lawmakers stressed the need to strengthen measures to trace, freeze, confiscate and recover criminal proceeds. The resolution is not legally binding and is intended to guide the policy direction of forthcoming rules. The upcoming rules would complement the EU anti-corruption directive that took effect in May, which seeks to harmonize member states’ definitions of corruption offenses and minimum punishment standards.