Ireland applies AML and CFT laws to crypto firms 27 April 2021

Ireland’s crypto businesses have become subject to regulatory oversight for the first time. The EU’s Fifth Anti-Money Laundering Directive has been transposed into Irish Law via the Criminal Justice Money Laundering and Terrorist Financing Amendment Act of 2021. The legislation requires Virtual Asset Service Providers or VASPs (including firms facilitating the exchange and/or transfer of cryptocurrencies and custodial wallet providers) to comply with its anti-money laundering (AML) and counter financing of terrorism (CFT) obligations. Irish VASPs must now register with the Central Bank of Ireland within the next three months, and carry out customer due diligence on their clients — including identification, accounting for the origin and destination of their crypto assets, and reporting suspicious financial activity.

Source –

CH-019057 (Webpage Portal)
2021-04-27 (Published)
2021-07-29 (Updated)