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Ireland is advancing industry standards targeting illicit crypto activity, with proposed policies falling under the country's anti-money laundering framework.
The measures would tighten rules around transfers from private crypto wallets and impose stricter requirements on overseas digital asset companies with Irish exposure. The case for stricter standards is real.
What complicates it is that the two parts of the market being targeted are precisely the ones most resistant to national-level controls. Private wallets are the first structural challenge the AML proposal takes on.
These are wallets held outside the custody of any regulated exchange, meaning conventional customer identity checks do not apply at the point of transfer.
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