Ireland to Draft "Emergency" New Crypto Regulations Ahead of EU Anti-Money Laundering Action

2024-10-16 21:41:57

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ChainCatcher news, according to Decrypt, before the European Union introduces a new round of laws and regulations to combat money laundering and terrorist financing, Irish Finance Minister Jack Chambers will draft "emergency" legislation to update the country's cryptocurrency regulations. However, the minister did not explicitly indicate what these rules would include, nor did he specify when they would take effect. Chambers was appointed to the position in June 2024, having had little experience as a cryptocurrency regulator.

It is reported that the EU's Anti-Money Laundering and Counter-Terrorism Financing Act will take effect on December 30, 2024, granting EU member states' Financial Intelligence Units (FIUs) greater investigative powers and the ability to suspend transactions.

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