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Central Bank of Ireland Expands Anti-Money Laundering Regime
The new requirements take effect in April.
Cryptocurrency companies in the Republic of Ireland will have to comply with anti-money laundering rules, the country's central bank has warned.
STORY CONTINUES BELOW
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- Cryptocurrency traders in Ireland will no longer be able to buy and sell anonymously, the Irish Independent reported Tuesday.
- Companies offering buying and selling services for cryptocurrency will have to complete due diligence on their customers to account for provenance and destination of their funds.
- This will bring cryptocurrency organizations on the same footing as mainstream financial services providers.
- The new requirements will take effect in April when the European Union's 6th Anti-Money Laundering Directive enters into Irish law.
- Coinbase Custody International calls Ireland home while Facebook's diem stablecoin project is also likely to have a presence there.
See also: Philippines Issues Crypto Industry Guidelines to Guard Against Money Laundering
Jamie Crawley
Jamie has been part of CoinDesk's news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
