Ireland flags crypto-asset misuse as top threat in new risk assessment
A 30-point plan would tighten checks on crypto funds, with new industry standards on crypto-related sources of funds due by the second half of 2027.
Ireland has identified crypto-asset misuse as one of the country’s top threats in a new National Risk Assessment and described crypto assets as a “very significant” money laundering and terrorism financing risk. The assessment is paired with a 30-point plan to tighten checks on crypto funds, including a commitment to introduce industry standards governing crypto-related sources of funds by the second half of 2027. The move points to tougher oversight of digital-asset activity as authorities sharpen their focus on how crypto can be used in illicit finance. The added safeguards may increase compliance costs, particularly for smaller firms, and could slow user onboarding as businesses adapt to stricter financial-crime controls.
- National Risk Assessment: A government review that identifies and ranks major threats such as money laundering and terrorism financing.
- sources of funds: Information and evidence showing where money used in a transaction or account activity comes from.
- user onboarding: The process of verifying and approving new customers to use a financial service.