EU to Ban Anonymous Crypto Accounts and Privacy Coins
The European Union is introducing new rules to combat money laundering in the cryptocurrency space. Starting in 2027, the EU will ban:
- *Anonymous crypto accounts*: Financial institutions and crypto service providers won't be allowed to maintain anonymous accounts.
- *Privacy coins*: Cryptocurrencies like Monero and Zcash that prioritize user anonymity will be restricted.
The goal is to increase transparency and prevent illicit activities in the crypto market. This move may impact how crypto transactions are conducted in the EU.
