TechFlow reported on October 16 that, ahead of a new round of EU regulations targeting money laundering and terrorist financing, Irish Finance Minister Jack Chambers is set to draft "emergency" legislation to update the country's cryptocurrency regulations. However, the minister did not clarify what specific measures the rules would include or when they would take effect. Chambers was appointed to the role in June 2024 and previously had little experience as a cryptocurrency regulator.
Notably, the EU's Anti-Money Laundering and Counter-Terrorist Financing Act is scheduled to take effect on December 30, 2024, granting national financial intelligence units (FIUs) greater investigative powers, including the ability to suspend transactions.
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