The Irish government has approved amendments to the law on combating money laundering and financing of terrorism, which also includes points about tightening oversight of cryptocurrency exchanges and other companies in the bitcoin industry. It is reported by The Irish Times.

In General, the document aims to harmonize the local legal framework with the requirements of the EU directives on countering money laundering, as well as increasing regulation of the cryptocurrency market. In particular, the new provisions oblige crypto companies to conduct a thorough verification of its clients. Will be banned anonymous transactions.

“Money laundering is a crime. It unties the hands of dangerous criminals and terrorists, destroying people’s lives”, — said the Minister of justice of Ireland, Charlie Flanagan.

Recall that in December last year the High Court of Ireland has recognized the cryptocurrency Ethereum “proceeds of crime”.