Irish crypto firms must comply with money laundering laws for the first time

Ireland’s crypto businesses have become subject to regulatory oversight for the first time, with local digital asset firms now observing anti-money laundering guidelines set out by the European Union, or EU.

The EU’s Fifth Anti-Money Laundering Directive, or 5AMLD, was transposed into Irish Law on April 23, via the Criminal Justice Money Laundering and Terrorist Financing Amendment Act of 2021.