Ireland Cracks Down on Crypto Money Laundering

Ireland has launched its first national anti-money laundering (AML) strategy, which targets crypto-asset service providers and overseas firms. The plan was unveiled on August 13 by Deputy Prime Minister Simon Harris.

The AML strategy focuses on five priority areas: national coordination, risk understanding, a stronger regulatory framework, building capability, and international cooperation.

Crypto-asset service providers will be required to conduct enhanced checks on transfers involving private crypto wallets. There are also stricter due diligence requirements when dealing with overseas crypto firms.