Turning to monetary policy initiatives, the ECB has been addressing the severe and persistent disinflationary forces in the euro area economy with a broad set of measures. Initially, it moved to refinancing operations at a fixed rate and with full allotment. It also extended the time horizon of refinancing operations, providing for 3-year maturities instead of the usual 3-month.
Cryptoassets pose significant money laundering and terrorism financing risks due to the pseudonymous actors that are parties to transactions, the ease and speed of transfer, and the general irrevocability of transactions—all of which make crypto-assets attractive for use in money laundering and terrorist financing.