TRENDS IN COMBATING MONEY LAUNDERING: VIRTUAL ASSETS

In recent years, cryptocurrencies have been growing in popularity around the world, and due to the nature of their digital existence, they are becoming an attractive tool for criminals. Their use in crimes technically complicates their detection and investigation. Every day, law enforcement agencies are improving their practice of identifying, tracing and seizing cryptocurrency assets. Given the relevance of the topic, this paper reviews and summarizes the results of the work and experience of Ukrainian state authorities in combating money laundering using virtual assets in the period of 2021–2022. Purpose. Thus, the purpose of the study was to investigate Ukraine's participation in international projects organized by the UN and the OSCE, aimed at finding solutions to counteract the use of virtual assets in criminal transactions and exchange of international experience. Materials and methods. The study was conducted using the following general scientific research methods: deduction and induction, synthesis and analysis, scientific abstraction, systematic approach; special legal methods of cognition: formal legal, legal forecasting, retrospective, comparative legal; methodological substantiation of the essence, nature and structure of the terminology that is the object of the study. Results. Being in the forefront of the ratings of cryptocurrency use among the population, according to the results of 2022, Ukraine should pay attention to the formation of a legislative framework for combating money laundering using virtual assets. The article concludes with the main domestic trends in combating money laundering, including with the use of cryptocurrencies. Ukrainian government officials, with the assistance of the OSCE and the United Nations Office on Drugs and Crime (UNODC), are participating in the extra-budgetary project «Innovative Policy Solutions to Reduce Money Laundering Risks Associated with Virtual Assets», which will be implemented under the OSCE-UNODC Joint Action Plan for 2022–2024. The ARMA has started cooperation with several cryptocurrency exchanges (Binance, Coinbase, KuCoin, Kraken and WhiteBit) to exchange information only within criminal proceedings. The European MiCA regulation will become the only regulatory framework for the cryptocurrency industry among EU member states. In order to combat money laundering through cryptocurrencies, members of the European Parliament approved a separate document on the identification of participants in crypto transactions and sources of funds to combat money laundering. The Ukrainian government is implementing MiCA into national legislation.