Ireland urgently drafts cryptocurrency law ahead of EU anti-money laundering rules

Irish Finance Minister Paschal Donohoe has informed the Cabinet that emergency legislation will be drafted to update cryptocurrency regulations before EU laws take effect on December 30. No details were disclosed regarding the new cryptocurrency legislation or its specific effective date. The EU's Anti-Money Laundering and Counter-Terrorism Financing Directive will take effect in December, enhancing the power of financial intelligence units to suspend transactions.