Lars
Active member
Ireland is working swiftly to draft new cryptocurrency legislation to meet the European Union’s anti-money laundering and counter-terrorism financing standards by the December 30 deadline. With the increasing use of digital currencies and recent high-profile crackdowns on illegal crypto activities, the country's Finance Minister Jack Chambers has emphasized the need for updated regulations. These new rules aim to prevent financial system abuse by implementing stricter controls on crypto exchanges, capping cash payments at €10,000, and requiring greater scrutiny of large transactions. But why is Ireland making this move now, and what could it mean for the future of crypto regulation in the country?