Ireland plans industry standards for illicit crypto use
Summary
Ireland released its first National Anti-Money Laundering, Countering the Financing of Terrorism and Countering Proliferation Financing Strategy, with new measures targeting crypto-related risks. The plan adds anti-money laundering obligations for crypto-asset service providers, requires enhanced checks on transfers involving private wallets, and imposes stricter due diligence for dealings with overseas crypto firms. It also says legislation to implement EU MiCA rules is well advanced. In addition, the strategy addresses standards for accepting crypto-related activity as a source of funds in gambling. This follows Ireland’s earlier crypto risk assessment and its plan to roll out related industry standards by the second half of 2027.
