Ireland To Draft New Cryptocurrency Regulations Ahead Of EU Anti-Money Laundering Laws

According to Odaily, Ireland is set to draft new cryptocurrency management rules ahead of the European Union's upcoming anti-money laundering and counter-terrorism financing regulations. The Irish Finance Minister, Jack Chambers, will draft 'urgent' legislation to update the country's cryptocurrency regulations. However, the minister has not specified what these new rules will entail or when they will come into effect. The Anti-Money Laundering and Counter-Terrorism Financing Act is scheduled to take effect on December 30, 2024, granting EU member states' Financial Intelligence Units (FIUs) greater investigative powers and the ability to suspend transactions.