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

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

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

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

Ireland stated that the new rules 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 domestic crypto firms a 12-month transition period, shorter than the maximum 18 months permitted by the EU. That transition period has now ended in late December 2025, so the new requirements will apply directly to firms that have received formal authorization. (Decrypt)