TechFlow News, October 16, according to Decrypt, before the European Union introduces a new round of laws and regulations to combat money laundering and terrorist financing, Irish Finance Minister Jack Chambers will draft "urgent" legislation to update the country's cryptocurrency regulations. But the minister did not clearly hint at what these rules will include, nor did he clearly state when they will take effect. Chambers was appointed to the position in June 2024, after having served as a cryptocurrency regulator for almost no time.

It is reported that the EU's Anti-Money Laundering and Combating Terrorist Financing Act will come into effect on December 30, 2024. The Act gives EU national financial intelligence agencies (FIUs) greater investigative powers and the ability to suspend transactions.