#EUPrivacyCoinBan

The European Union has officially approved a regulation that will ban anonymous cryptocurrency accounts and transactions involving privacy coins like Monero and Zcash starting July 1, 2027. This measure is part of a broader anti-money laundering effort. Financial institutions will be prohibited from offering anonymous crypto services, and any crypto transaction exceeding €1,000 will require identity verification. A new EU authority, AMLA, will oversee the enforcement of these regulations.