Ireland's first AML strategy imposes enhanced controls on private wallet transfers and tightens due diligence for crypto firms outside the EU, with key measures tied to MiCA and the FATF travel rule.
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Ireland published its first National Anti-Money Laundering Strategy, a document that will remain in effect through 2030 and includes specific measures aimed at the crypto sector. The Department of Finance noted that pending elements of the European Union's Funds Transfer Regulation will introduce new obligations for crypto asset service providers, including enhanced controls on transfers involving private wallets and greater due diligence when dealing with crypto firms based outside the bloc.
The central mechanism is the FATF travel rule, which requires each transaction to carry information on its origin and beneficiary. That rule was developed alongside MiCA, which established crypto asset service providers as a regulated category across the EU. MiCA entered fully into force on July 1. Brussels is preparing a review of the regulatory framework for 2027 that aims to bring non-European stablecoin issuers under the same rules.
Ireland gave crypto firms a 12-month adaptation period, shorter than the 18 months the regulation allows under the ESMA register. That deadline expired at the end of December 2025. The new obligations now fall on companies that already hold full authorization.
Finance Minister Simon Harris said criminal organizations exploit new technologies, crypto assets, and complex international financial networks to hide profits. The strategy, he said, shows Ireland will not be a haven for money laundering.
The document builds on a 30-point plan the Irish government presented in June alongside its National Risk Assessment. That assessment identified the misuse of crypto assets among the country's emerging financial threats. The most significant domestic measure in the plan tasked the Gambling Regulatory Authority of Ireland with developing a sectoral standard for accepting crypto assets as a source of funds. Due diligence to verify their legitimacy is scheduled for the second quarter of 2027.
At the European level, the AML Regulation prohibits crypto service providers from offering or maintaining anonymous accounts or accounts that allow transactions to be anonymized. That includes privacy coins. The prohibition does not extend to self-hosted wallets whose providers have no access to or control over them. Those rules take effect in July 2027 and will be overseen by the Anti-Money Laundering Authority based in Frankfurt.
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