Ireland Tightens Crypto Regulations in Anti-Money Laundering Strategy

Ireland has published its first National Anti-Money Laundering Strategy, which includes enhanced checks on transfers involving private crypto wallets and stricter due diligence on overseas crypto firms.

The strategy builds on a 30-point action plan published in June that promised enhanced safeguards around crypto-assets and digital finance.

The EU Transfer of Funds Regulation requires 'enhanced checks' on transfers involving private crypto wallets, while the FATF travel rule demands information on the originator and beneficiary accompany each transaction.

Ireland's measures are part of a wider EU timetable that tightens regulations around crypto-asset service providers, including the prohibition on anonymous accounts and anonymity-enhancing coins starting in July 2027.