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Bitcoin.com 17 Oct 2024

Ireland Moves to Draft Urgent Legislation for Cryptocurrency Regulations Ahead of EU Deadline 🇮🇪

cryptocurrency Jack Chambers Ireland European Union

Ireland's Finance Minister, Jack Chambers, has announced the urgent drafting of legislation to regulate cryptocurrency and digital asset firms within the country. This move aims to update existing financial regulations in response to impending European Union directives.

The EU's new money laundering and counter-terrorism financing laws are set to take effect soon, prompting Ireland to ensure compliance through timely legislative measures. The urgency underscores the growing importance of maintaining financial integrity amid the rise of digital currencies.

The legislation seeks to integrate cryptocurrencies into the wider financial regulatory framework, ensuring that cryptocurrencies and digital assets adhere to the same standards as traditional financial instruments.

Source: news.bitcoin.com ↗

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