Ireland's New AML Strategy Targets Private Crypto Wallets

Officials said legislative steps to apply the EU's Markets in Crypto Assets regulation were “significantly progressed.” The new strategy expands on that work.

Private wallets are a focal point because they allow transfers without intermediation by regulated platforms, and the updated rules target anonymous fund movements. Ireland also plans to regulate crypto used in the gambling industry, adding sector-specific standards for accepting crypto-related payments.

The strategy goes beyond crypto. Authorities want clearer visibility into corporate ownership and added reporting duties for limited partnerships and high-risk business entities. The reporting changes target corporate arrangements that can obscure who ultimately owns a business. Financial-intelligence systems will also be upgraded to catch cyber-facilitated fraud and sanctions evasion. Supervision of vulnerable industries, particularly gambling, will be intensified, and information sharing between government bodies and financial oversight agencies will expand.

The strategy partly positions Ireland for a Financial Action Task Force (FATF) peer review scheduled for 2026. In June, Ireland released its first crypto risk evaluation in seven years; industry benchmarks are planned for the second half of 2027.

“Today's announcement delivers an unambiguous statement: Ireland will not serve as a haven for money laundering activities,” Harris said. Government officials said implementation has already begun across departments, law enforcement, regulators and the private sector.