Crypto news

Ireland's Ministry of Finance has presented its first national strategy to combat money laundering and terrorist financing (AML/CFT). This document is not just a formality, but a clear signal to the market: the country intends to systematically tighten the screws in the cryptocurrency sector, with an emphasis on transparency and control.

The key innovations hit the industry's pain points precisely. First, enhanced due diligence is being introduced for all transactions originating from private, non-custodial wallets. This is effectively an acknowledgment that anonymity on the network is becoming a luxury unavailable for large sums. Second, the regulator requires an increased level of counterparty verification when working with foreign crypto companies, which will significantly complicate life for international projects that lack local licensing.

Special attention is paid to gambling. Ireland is introducing industry standards that will regulate the acceptance of cryptocurrencies as a source of funds for gambling. This closes another loophole for mixing legal and illegal capital flows. These standards are expected to be implemented in the second half of 2027, giving businesses time to adapt, but not to resist.

Notably, the document describes the legislative framework for implementing MiCA provisions regarding AML/CFT as "well advanced." This indicates that Dublin is not merely following the pan-European course, but aims to position itself as one of the strictest regulators in the EU regarding digital assets.

My comment: Ireland is demonstrating an example of how MiCA is transforming from a framework agreement into rigorous enforcement practice. Enhanced control over private wallets is a precedent that other jurisdictions will likely follow. For the crypto industry, this means one thing: the era of "gray" transactions in Europe is coming to an end, and only those projects ready for full transparency will survive.