Irish organized crime gangs are renting private safety deposit boxes to store cryptocurrency wallet private keys and seed phrases alongside cash, luxury goods, and passports, said Michael Gubbins, head of the Irish Criminal Assets Bureau. The practice has been reported to the government's Anti-Money Laundering Steering Committee as Ireland prepares for new EU rules next summer. The regulations will ban cash transactions above €10,000 and require merchants to identify customers for cash spending over €3,000. Gubbins said gangs believe cryptocurrencies offer anonymity, but price volatility and the risk of losing wallet passwords remain major issues. He added that Irish crime groups' cryptocurrency use is still "quite basic," with cash remaining dominant.