Ireland to draft new cryptocurrency rules ahead of EU anti-money laundering crackdown

Odaily News Ireland is about to draft new cryptocurrency management rules ahead of a new round of EU laws and regulations to combat money laundering and terrorist financing. According to the Irish Observer, Finance Minister Jack Chambers will draft "urgent" legislation to update the country's cryptocurrency regulations. But the minister did not clearly hint at what these rules will include or when they will take effect. The Anti-Money Laundering and Combating Terrorist Financing Act, which will come into effect on December 30, 2024, gives EU national financial intelligence units (FIUs) greater investigative powers and gives them the ability to suspend transactions. (Decrypt)