Ireland Publishes First Anti-Money Laundering Strategy Targeting Digital Assets

The government of Ireland published a comprehensive anti-money laundering strategy, detailing how the country would address digital assets potentially used for illicit purposes.

In a Thursday notice, Ireland’s government released its first National Anti-Money Laundering, Countering Financing of Terrorism and Countering Proliferation Financing Strategy. The document included proposed reforms on cryptocurrency-related policies related to strengthening Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFTC) measures.

“The bulk of this has been implemented with these final elements introducing new anti-money laundering obligations for crypto-asset service providers, requiring enhanced checks on transfers involving private crypto wallets and stricter due diligence when dealing with overseas crypto firms,” said the Irish government.

The document, prepared by the country’s finance department, noted that there was “well advanced” legislation to implement AML/CFT rules under the European Union’s Markets in Crypto Assets (MiCA) framework. It also included addressing industry standards “relating to the acceptance of crypto-related activities” as a source of funds for gambling.

Ireland’s AML strategy was the latest example of the government attempting to address issues with digital assets potentially being used for money laundering and terrorism financing. In June, the country released its first national risk assessment related to crypto in seven years, saying that it planned to implement industry standards by the second half of 2027.