Ireland Launches First National AML Strategy, Tightening Crypto Wallet Oversight

Ireland introduces inaugural anti-money laundering framework, mandating enhanced due diligence for private wallet transfers and overseas partnerships under MiCA and FATF guidelines.

Woofun AI reports that Ireland has unveiled its first national anti-money laundering strategy, imposing stricter scrutiny on transfers to private crypto wallets outside custodial institutions. As the final components of the EU's Payment Services Directive take effect, crypto asset service providers are required to conduct "enhanced checks" on private wallet transactions and perform rigorous due diligence when engaging with overseas crypto firms. These measures align with the FATF travel rule and the MiCA regulatory framework. While previous regulations allowed a 12-month transition period, the new requirements apply immediately to fully licensed service providers, with the strategic plan extending until 2030.