Lawmakers in the European Parliament are calling on the European Commission to strengthen oversight of crypto assets and unveil tougher measures against corruption risks associated with digit
Lawmakers in the European Parliament are calling on the European Commission to strengthen oversight of crypto assets and unveil tougher measures against corruption risks associated with digital finance and opaque ownership structures. Their demands come as part of a broader effort to enhance the European Union’s fight against financial crime.
On Thursday, Members of the European Parliament (MEPs) adopted a nonbinding resolution underscoring the need for the European Commission to address corruption vulnerabilities tied to emerging digital tools, including cryptocurrencies. The resolution prioritizes improving the tracing, freezing, confiscation, and recovery of criminal proceeds, especially those linked to crypto transactions.
MEPs highlighted growing concerns that digital assets may be used to launder illicit funds or obscure beneficial ownership. They pressed for the upcoming anti-corruption strategy to introduce effective mechanisms to monitor and control the use of such assets.
Parliament members emphasized the urgency of strengthening efforts to trace, freeze, confiscate, and recover assets derived from criminal activities, including those involving cryptocurrencies and other digital tools.
Mini dictionary: European Parliament, the legislative body of the European Union, is responsible for amending, approving, or rejecting EU legislation and scrutinizing other EU institutions.
In addition to addressing risks from crypto assets, MEPs urged the Commission to introduce stricter rules governing public procurement and the allocation of government grants. They demanded more consistent standards for managing conflicts of interest across EU member states, as well as unified regulations on lobbying and political financing.
Lawmakers also underscored the importance of safeguarding whistleblowers and investigative journalists who play a key role in exposing corruption. These calls seek to complement the EU’s existing anti-corruption directive, which became law in May. The directive establishes common definitions for corruption-related offenses and sets minimum penalties across the EU to align member states’ legal frameworks.
Area of Reform Current Status MEPs’ Proposed Action Crypto oversight Fragmented, inconsistent across EU Stronger tracing and recovery measures Public procurement Varied standards Unified, stricter rules Conflict of interest Country-specific laws Harmonized EU-wide standards Whistleblower protection Partial, uneven Enhanced safeguardsThe European Commission is expected to finalize its comprehensive anti-corruption strategy by the end of 2026, aiming to update and harmonize oversight mechanisms throughout the bloc.
The European Commission has set its target for adopting the bloc-wide anti-corruption strategy by the end of 2026. As work proceeds, lawmakers reiterate that digital innovation, particularly the rise of crypto assets, presents both opportunities and growing risks for EU financial integrity.
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