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The European Union will completely ban anonymous cryptocurrency accounts and private cryptocurrency transactions starting in 2027

Palestinian news agency reported on May 3 that the European Union has officially approved

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the Anti-Money Laundering Regulation (AMLR), which will prevent all financial institutions and cryptocurrency service providers from offering anonymous cryptocurrency accounts or wallets starting July 1, 2027, and completely prohibit private cryptocurrency transactions (such as Monero, Zcash, and Dash). The new regulations also require mandatory identity verification for cryptocurrency transactions exceeding 1000 euros and the establishment of a new regulatory body, AMLA, to directly oversee large cryptocurrency platforms. (Cointelegraph)