Ireland implements enhanced AML checks on private crypto wallets and stricter due diligence for firms dealing with overseas crypto companies.
Regulation & Gov ·
Ireland released its first National Anti-Money Laundering Strategy on Thursday, embedding new obligations for crypto-asset service providers into the country's financial-crime framework. The strategy incorporates final elements of the EU Transfer of Funds Regulation, which mandate heightened scrutiny of transfers to and from private crypto wallets and tougher vetting procedures when firms engage with overseas crypto businesses. Minister for Finance Simon Harris framed the measures as closing pathways that criminal organizations exploit through emerging technologies and cross-border financial channels.
The new rules land against a backdrop of earlier regulatory action. In June, the Irish government published a 30-point action plan naming crypto-asset misuse as an evolving financial-crime risk and committing to stronger protections in the sector. Ireland granted crypto firms a 12-month transition period under MiCA, shorter than the 18 months most EU member states allowed; that window closed at the end of 2025, so existing authorized firms now face the full compliance burden. The rules align with the FATF travel rule requirement that transaction information on originators and beneficiaries flow alongside crypto transfers.
A secondary domestic measure—requiring the Gambling Regulatory Authority of Ireland to establish due-diligence standards for gambling operators accepting crypto funds—remains in development and is scheduled for the second quarter of 2027. The broader strategy spans through 2030, though specifics on enforcement scope and timeline for full implementation across all covered entities remain unclear.