Strasbourg (Brussels Morning Newspaper) October 14, 2026 – Eight nations and the European Union have signed a newly introduced Council of Europe treaty designed to modernise legal frameworks, enhance authorities’ capacity to confiscate illicit assets including cryptocurrencies, and improve international cooperation against transnational criminal networks.
The Additional Protocol to the Convention on Laundering, Search, Seizure and Confiscation of the Proceeds from Crime and on the Financing of Terrorism, commonly known as the Warsaw Convention, was officially opened for signature during the Octopus conference in Strasbourg. The treaty aims to address the growing sophistication of cross-border and technologically advanced criminal enterprises by expanding the legal powers available to law enforcement and judicial authorities.
Modernising Legal Frameworks for Asset Recovery
The newly opened protocol introduces updated mechanisms to target the financial foundations of organised crime. According to institutional documentation released by the Council of Europe, the framework provides participating states with enhanced instruments to trace, freeze, manage, and confiscate criminal proceeds.
Among its core provisions, the treaty allows for confiscation without a criminal conviction under specific circumstances, acting via court orders where assets are strongly suspected of constituting the proceeds of crime. This measure is intended to counter cases where suspects evade standard criminal proceedings or conceal ownership structures behind complex corporate fronts.
Furthermore, the protocol specifically addresses technological developments in financial crime, incorporating provisions that facilitate the tracking and seizure of crypto-assets and virtual currencies. Transnational criminal syndicates increasingly rely on decentralized digital assets to launder illicit funds, making dedicated legal instruments for virtual currency recovery a central pillar of the modernised text.
International Signatories and Initial Participation
During the opening ceremony in Strasbourg, representatives from eight Council of Europe member states, alongside the European Union, formalised their commitment by signing the protocol. The initial group of signatories represents a coordinated move among European jurisdictions to align national asset recovery standards and streamline cross-border judicial assistance.
The protocol builds upon the original Warsaw Convention (CETS No. 198), which was opened for signature in Warsaw in 2005 as a comprehensive international instrument covering the prevention and control of money laundering and terrorist financing. While the Warsaw Convention currently counts 39 states parties and five additional signatories, the new protocol introduces advanced provisions tailored to contemporary criminal methodologies.
Provisions for Social and Public Benefit
The treaty also encourages participating states to utilise confiscated criminal assets for social or public benefit initiatives. Under these guidelines, governments are prompted to convert the financial proceeds of crime into tangible resources for local communities, supporting public projects, crime prevention programs, or victim compensation funds.
Implementation and compliance will be overseen by the existing Conference of the Parties, which monitors adherence to the standards outlined within the Warsaw Convention and its supplementary texts.
Path to Entry into Force
For the protocol to formally enter into force, a minimum of five ratifications is required. These ratifications must include at least three member states of the Council of Europe.
The text remains open for signature by all member states, as well as the European Union and non-member states that wish to accede to the framework. Officials at the Council of Europe anticipate that additional countries will ratify the agreement in upcoming legislative sessions as part of broader regional strategies to combat organized financial crime.
