{"id":39121,"date":"2021-03-18T10:04:23","date_gmt":"2021-03-18T08:04:23","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=39121"},"modified":"2025-08-30T08:02:27","modified_gmt":"2025-08-30T05:02:27","slug":"ireland-to-tighten-regulation-of-the-cryptocurrency-industry-2","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/ireland-to-tighten-regulation-of-the-cryptocurrency-industry-2\/","title":{"rendered":"Ireland to tighten regulation of the cryptocurrency industry"},"content":{"rendered":"<p>The Central Bank of Ireland will extend the scope of the anti-money-laundering and counter-terrorism financing regime to the cryptocurrency industry from April, according to <a href=\\\"https:\/\/www.independent.ie\/business\/money-laundering-regime-extended-to-bitcoin-from-april-40203447.html\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">Irish Independent<\/a>.<\/p>\n<p>\\n<\/p>\n<p><!--more--><\/p>\n<p>\\n<\/p>\n<p>New rules will place companies dealing with digital assets on an equal footing with traditional financial-services providers. Registration with the regulator and comprehensive customer checks will become mandatory.<\/p>\n<p>\\n<\/p>\n<p>The new requirements align with the European Union&#8217;s Fifth Anti-Money Laundering Directive (5AMLD).<\/p>\n<p>\\n<\/p>\n<p>Josh Hogan, co-chair of Ireland&#8217;s fintech and payments association, wrote in <a href=\\\"https:\/\/www.businesspost.ie\/financial-services\/comment-ireland-must-be-ready-to-seize-the-opportunity-crypto-assets-offer-b4ebc203\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">Business Post<\/a> that the country has the opportunity to become a leading jurisdiction for creating a regulated cryptocurrency business.<\/p>\n<p>\\n<\/p>\n<blockquote>\n<p>\\&#8221;Ultimately this will bring real commercial benefits in terms of jobs, business revenues and taxes,\\&#8221; Hogan said.<\/p>\n<\/blockquote>\n<p>\\n<\/p>\n<p>In August 2020, authorities in Ireland proposed <a href=\"https:\/\/forklog.com\/en\/news\/ireland-to-tighten-regulation-of-the-cryptocurrency-industry\">tightening regulation<\/a> of digital assets.<\/p>\n<p>\\n<\/p>\n<p>Directive 5AMLD EU obliges national registers to disclose the beneficial owners of companies registered in EU member states and prohibits financial institutions from servicing anonymous accounts.<\/p>\n<p>\\n<\/p>\n<p>Earlier, Austria&#8217;s financial regulator urged <a href=\"https:\/\/forklog.com\/en\/news\/austrias-financial-regulator-calls-for-tougher-regulation-of-cryptocurrencies\">stricter regulation<\/a> of the cryptocurrency industry amid rising fraud activity.<\/p>\n<p>\\n<\/p>\n<p>Follow ForkLog news on <a href=\\\"https:\/\/www.facebook.com\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">Facebook<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Central Bank of Ireland will extend the scope of the anti-money-laundering and counter-terrorism financing regime to the cryptocurrency industry from April, according to the Irish Independent.<\/p>\n","protected":false},"author":1,"featured_media":39122,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[803,36],"class_list":["post-39121","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-ireland","tag-regulation"],"aioseo_notices":[],"amp_enabled":true,"views":"21","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/39121","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=39121"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/39121\/revisions"}],"predecessor-version":[{"id":39123,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/39121\/revisions\/39123"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/39122"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=39121"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=39121"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=39121"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}