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Ireland Tightens Crypto Safeguards in New Financial Crime Action Plan

Ireland Tightens Crypto Safeguards in New Financial Crime Action Plan

In brief

  • Ireland’s government launched a new National Risk Assessment and 30-point action plan Thursday, naming the misuse of crypto-assets among the country’s evolving financial-crime threats.
  • The plan promises “enhanced safeguards around crypto-assets and digital finance,” including a new industry standard requiring due diligence to verify that crypto used as a source of funds is legitimate.
  • Tánaiste Simon Harris and Justice Minister Jim O’Callaghan said the measures aim to protect victims and keep Ireland’s defenses apace with criminals’ use of new technology.

Ireland has put crypto-assets squarely in the frame of its latest crackdown on financial crime.

The government launched a new National Risk Assessment on money laundering,…

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