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#SaylorBTCPurchase The European Union will ban anonymous cryptocurrencies and privacy tokens in 2027
Europe will ban anonymous cryptocurrency accounts and privacy coins starting in 2027.
The European Union is about to impose broad anti-money laundering (AML) regulations that will prohibit privacy-preserving tokens and anonymous cryptocurrency accounts starting in 2027.
Under the new Anti-Money Laundering Regulation (AMLR), credit institutions, financial institutions, and crypto-asset service providers (CASP) will be prohibited from maintaining anonymous accounts or handling privacy-preserving cryptocurrencies.
"Article 79 of the AMLR establishes strict prohibitions on anonymous accounts [...]. Credit institutions, financial institutions, and crypto-asset service providers are prohibited from maintaining anonymous accounts," according to the AML Manual published by the European Crypto Initiative (EUCI).