Ireland Publishes Anti-Money Laundering Strategy for Crypto
Ireland's government has published its first National Anti-Money Laundering, Countering Financing of Terrorism and Countering Proliferation Financing Strategy.
The document outlines proposed reforms to strengthen Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFTC) measures related to cryptocurrencies.
According to the Irish government, 'the bulk of this has been implemented with these final elements introducing new anti-money laundering obligations for crypto-asset service providers.'
The strategy also includes proposed reforms to address industry standards relating to the acceptance of crypto-related activities as a source of funds for gambling.
Ireland's AML strategy is the latest example of the government attempting to address issues with digital assets potentially being used for money laundering and terrorism financing.