Ireland Cracks Down on Private Crypto Wallets with Enhanced AML Controls
Ireland has published its first National Anti-Money Laundering Strategy, which includes enhanced controls on transfers involving private cryptocurrency wallets. The strategy aims to combat money laundering and terrorist financing through stricter regulations on crypto firms operating in the country.
The EU Funds Transfer Regulation requires greater due diligence from crypto firms operating with unregulated foreign companies, including 'enhanced controls' on transfers involving private wallets. This regulation also introduces new obligations for crypto asset service providers, such as providing information on a transaction's origin and beneficiary.
Ireland has granted an adaptation period of 12 months to crypto firms, shorter than the maximum 18 months allowed by the regulation. The deadline expired at the end of December 2025, meaning the new obligations now fall on companies that already hold full authorization.