The Irish government has published a comprehensive anti-money laundering strategy detailing how the country will counter the potential use of digital assets for illicit purposes.
In a notice published on Thursday, the Irish government released its first National Strategy to Combat Money Laundering, Terrorist Financing, and Proliferation Financing. The document outlined policy reforms in the cryptocurrency sector aimed at strengthening Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) measures.
"Most of these measures are already in effect, and the final provisions introduce new anti-money laundering obligations for providers of crypto-asset-related services. They require enhanced verification for transfers from non-custodial crypto wallets and stricter due diligence when dealing with foreign crypto companies," the Irish government stated.
The document, prepared by the country's Department of Finance, noted that the bill to implement AML/CFT rules in line with the European Union's Markets in Crypto-Assets (MiCA) regulation was at an "advanced stage." The document also examined industry standards "regarding the acceptance of cryptocurrency-related activities" as a source of funds for gambling.
Ireland's anti-money laundering strategy is the latest example of government efforts to address challenges related to the potential use of digital assets for money laundering and terrorist financing. In June, Ireland published its first national risk assessment on cryptocurrencies in seven years, stating that it planned to implement industry standards in the second half of 2027.
Related: UK authorities continue investigation into Nigel Farage's cryptocurrency 'gifts' following by-election victory
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