#EUPrivacyCoinBan

The European Union (EU) has banned privacy coins like Monero and Zcash under its new Anti-Money Laundering (AML) rules, aiming to curb illicit finance. These cryptocurrencies anonymize transactions, raising concerns over money laundering and terrorism financing. The EU now mandates strict KYC checks, forcing exchanges to delist privacy-focused assets.

Supporters argue privacy coins protect financial freedom, but regulators insist transparency is vital for security. Critics warn the ban may push transactions underground, complicating oversight. The move aligns with the EU’s broader crypto regulations, prioritizing compliance over anonymity. Exchanges must now comply or face penalties, marking a major shift in the bloc’s approach to balancing innovation and financial control.