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13 May 2021

Ireland Now Requires Crypto Firms to Comply With AML and KYC Rules - Decrypt

Ireland Now Requires Crypto Firms to Comply With AML and KYC Rules - Decrypt


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Ireland Now Requires Crypto Firms to Comply With AML and KYC Rules.

The EU’s Fifth Anti-Money Laundering Directive (5AMLD) was transposed into Irish law on Friday, April 23—meaning that crypto firms operating in the country now need to register with the central bank within a three-month period.

The new rules also mean that virtual asset services providers (VASPs) will have to comply with the same know-your-customer (KYC), anti-money laundering (AML), and counter-terrorism financing (CTF) requirements as banks and other financial institutions.

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