Ireland Unveils National AML Strategy With Tighter Controls on Crypto Transfers Involving Self-Hosted Wallets

Ireland has published its first national anti-money laundering (AML) strategy, placing cryptoasset service providers (CASPs) firmly in focus. Unveiled by Tánaiste and Minister for Finance Simon Harris, the plan runs through 2030 and sets out new expectations for the sector, including enhanced checks on transfers involving private (self-hosted) wallets and tougher due diligence when dealing with overseas crypto firms. Ireland's Department of Finance said the strategy completes the country's transposition of most of the EU Transfer of Funds Regulation. It added that the remaining elements introduce additional compliance obligations for CASPs, particularly heightened scrutiny for transactions that touch private wallets. These measures implement the FATF "travel rule," requiring originator and beneficiary information to accompany crypto transfers. The strategy lands alongside the EU's Markets in Crypto-Assets Regulation (MiCA), which created a pan-European authorisation regime for CASPs. Ireland opted for a shorter 12-month grandfathering period, rather than the 18 months allowed under the regulation. That window closed at the end of December 2025, leaving the current requirements applicable to firms operating under full authorisation. MiCA took full effect across the EU on July 1, and the European Commission plans to revisit the rulebook in 2027, including issues around non-EU stablecoin issuers. The document builds on a June 2026 National Risk Assessment and 30-point action plan that flagged crypto-related misuse as a growing risk and committed to stronger safeguards for digital finance. Domestic measures and timelines The Gambling Regulatory Authority of Ireland has been tasked with developing an industry standard governing the acceptance of crypto as a source of funds, including due diligence to confirm legitimacy. The standard is scheduled for Q2 2027. At the EU level, the Anti-Money Laundering Regulation tightens rules further. From July 2027, CASPs will be prohibited from offering or maintaining anonymous crypto accounts or accounts that facilitate anonymised transactions, including through anonymity-enhancing coins. Providers of hardware, software and purely self-hosted wallets that do not have access to or control over customer funds are exempt. The Anti-Money Laundering Authority (AMLA), based in Frankfurt, will oversee enforcement. International backdrop Ireland's move comes as international pressure intensifies. The Paris-based Financial Action Task Force (FATF) has pushed jurisdictions to apply its travel-rule standards to crypto activity. In a July report, FATF said DeFi platforms with identifiable controllers should be supervised like other financial firms, and it found nearly 93% of surveyed jurisdictions had not yet applied FATF standards to qualifying arrangements. The UK is also moving to tighten oversight. HM Treasury's September 2025 draft reforms would cut the change-in-control notification threshold for crypto firms from 25% to 10%. Why it matters The strategy underscores Ireland's intent to reduce the attractiveness of crypto for laundering illicit proceeds. "Ireland will not be a safe place to launder criminal proceeds," Harris said. For CASPs, payment rails and gambling businesses that accept crypto, the strategy points to heavier compliance demands, expanded data-sharing on transfers and more intensive scrutiny of cross-border counterparties. For users, self-custody remains permitted, but moving funds through regulated entities is set to become more frictional as rules tighten and enforcement becomes more active across the EU.