The Irish government has introduced its first national strategy targeting money laundering and the financing of terrorism in the cryptocurrency sector. This comprehensive framework includes more rigorous verification procedures for transactions originating from private cryptocurrency wallets, as well as heightened due diligence requirements for interactions with international crypto firms.
Furthermore, the strategy sets forth industry standards for the acceptance of cryptocurrencies as a means of funding for gambling activities. The legislative measures aimed at enforcing the Anti-Money Laundering and Counter Financing of Terrorism (AML/CFT) provisions of the Markets in Crypto-Assets (MiCA) regulation are reportedly in an advanced stage, with implementation standards anticipated to be established by late 2027.
