The Special Structure Against Corruption and Organized Crime (SPAK) is facing a new challenge in the fight against money laundering: the management and storage of cryptocurrencies seized from criminal groups.
During his report to the Laws Committee on the institution's budget, SPAK prosecutor Vladimir Mara revealed that in addition to seizing traditional assets, organized crime is now directing its illegal profits towards virtual currencies. But, unlike other assets, these assets do not yet have a legal or technical basis for being administered within the Albanian justice system.
"Criminal groups are increasing their use of cryptocurrencies. Digital wallets require maintenance, while legal intervention is also needed in the way they are stored and managed," Mara said.
In January 2024, SPAK announced the first case of seizure of cryptocurrencies in the country, worth around 10 million units, belonging to brothers Franc and Hajdar Çopja. Due to the lack of domestic capacity, these cryptocurrencies are currently being stored with the help of the Italian prosecution.
This case, according to the SPAK prosecutor, has highlighted the necessity of creating a clear legal and technical framework for the administration of seized virtual assets. For the time being, SPAK emphasizes that without legal intervention, the fight against money laundering through cryptocurrencies remains truncated.
