#EUPrivacyCoinBan Privacy coins and anonymous cryptocurrency wallets could soon become a thing of the past in the European Union. As part of a comprehensive reform to tighten anti-money laundering rules, the EU has announced plans to ban them starting July 1, 2027. The message is clear: cryptocurrencies may remain, but they must be subject to the same rules as the rest of the financial system. Regulators make it clear that privacy coins will not be tolerated in the EU under the updated anti-money laundering framework.

The new rules are framed within the updated Anti-Money Laundering Regulation of the bloc, or AMLR, and are already revolutionizing discussions about privacy, surveillance, and the future of decentralized finance.

What the ban really covers

The proposal is not just a slap on the wrist. It would completely ban anonymous cryptocurrency accounts across the EU. This means that cryptocurrency service providers, exchange platforms, and even financial institutions would be prohibited from offering services that do not collect customer identification.