Ireland publishes its first anti-money laundering strategy, strengthening scrutiny of transfers involving private crypto wallets

Odaily News: The Irish government has published its first national Anti-Money Laundering (AML) strategy, which plans to strengthen scrutiny of digital asset transfers involving private crypto wallets (self-hosted wallets) and raise due diligence requirements for crypto firms collaborating with overseas institutions.

According to an announcement from the Irish Department of Finance, the strategy implements the remaining requirements of the EU's Transfer of Funds Regulation, requiring crypto asset service providers (CASPs) to conduct "enhanced checks" on transfers involving private wallets, while also implementing stricter customer due diligence when conducting business with overseas crypto firms.

The measures are based on the Financial Action Task Force (FATF)'s "Travel Rule," which requires digital asset transactions to include sender and recipient information to enhance transparency in fund flows.

Ireland stated that the new regulations are being advanced in tandem with the EU's Markets in Crypto-Assets Regulation (MiCA). MiCA establishes a unified regulatory framework for crypto asset service providers, while Ireland previously granted its domestic crypto firms a transition period of 12 months—shorter than the maximum 18 months allowed by the EU. That transition period ended at the end of December 2025, so the new requirements will now apply directly to firms with full authorization. (Decrypt)