Ireland’s New AML Strategy Brings ‘Enhanced Checks’ on Private Crypto Wallets
Ireland released its first national anti-money-laundering, countering financing of terrorism, and countering proliferation financing strategy, running to 2030. A key crypto focus is the remaining implementation of the EU Transfer of Funds Regulation, which adds “enhanced checks” for transfers involving private/self-hosted wallets and stricter due diligence for dealings with overseas crypto firms, reflecting the FATF travel rule. The measures sit alongside MiCA, under which crypto-asset service providers are now a regulated category across the EU. Ireland allowed only a 12-month grandfathering period for crypto firms, shorter than the 18 months permitted, so firms already hold full authorization. Simon Harris said the strategy signals that Ireland will not be a safe place to launder criminal proceeds. It builds on a June 30-point action plan and risk assessment that flagged crypto misuse and promised stronger safeguards around digital finance.
