Ireland Working on New Crypto Regulations
Ireland is preparing to introduce new cryptocurrency regulations in anticipation of the European Union’s upcoming anti-money laundering and terrorist financing laws.
Finance Minister Jack Chambers has announced plans to draft urgent legislation to update the country’s existing crypto regulations.
While specific details about the content and implementation timeline of these new rules remain unclear, it’s worth noting that Minister Chambers, appointed to his position in June 2024, has limited experience in crypto regulation.
The EU’s Anti-Money Laundering and Countering the Financing of Terrorism Act, effective December 30th, 2024, will significantly enhance the investigative powers of EU countries’ Financial Intelligence Units (FIUs) and grant them the authority to suspend transactions.
