The European Union has officially passed the Anti-Money Laundering Regulation (AMLR), which will prohibit financial institutions from providing anonymous cryptocurrency accounts or wallets with crypto service providers starting from July 1, 2027, and will completely ban the trading of privacy coins (such as Monero, Zcash, Dash). The new regulations also require mandatory identity verification for cryptocurrency transactions exceeding 1,000 euros and establish a new regulatory body, the AMLA, to directly oversee large cryptocurrency platforms.

This initiative aims to enhance financial transparency and combat money laundering and terrorist financing activities. However, it has raised concerns about user privacy rights. Some investors may seek to continue trading privacy coins in regions with looser regulations (such as Dubai). This move marks a significant step by the EU in regulating cryptocurrencies, which could have far-reaching effects on the global crypto market.