#EUPrivacyCoinBan

The EU's Markets in Crypto-Assets (MiCA) regulation, signed into law on May 31, 2023, aims to provide a comprehensive framework for digital assets. Article 68 of MiCA prohibits trading platforms from offering crypto assets with built-in anonymization features unless they can identify the holders and transaction history. This provision has led to increased scrutiny of privacy coins, which are designed to obscure transaction details .

Additionally, the European Banking Authority (EBA) has highlighted the money laundering risks associated with privacy coins and self-hosted wallets, urging crypto firms to implement measures to detect and mitigate such risks .