Ireland mulls crypto safeguards in response to financial risks
Summary
Ireland is tightening oversight of crypto because it sees digital assets as a major money-laundering and terrorism-financing risk. A new national risk assessment says crypto also creates vulnerabilities for sanctions evasion, tax enforcement, and bribery, with decentralized finance and uneven international regulation adding to the threat. The government plans to adopt industry standards for accepting crypto-related funds by the second half of 2027. Ireland’s crypto rules remain weaker than those in the EU and U.S., even though about 10% of the population owns crypto. The assessment follows a rise in money-laundering prosecutions and fraud cases involving crypto.
