#EUPrivacyCoinBan : The EU bans anonymous cryptocurrencies starting in 2027

The European Union has approved new anti-money laundering rules (AMLR) that will take effect on July 1, 2027. According to these rules, the use of anonymous cryptocurrencies such as Monero (XMR), Zcash (ZEC), and Dash, as well as anonymous crypto wallets, will be prohibited. Financial institutions and crypto services will be forbidden from servicing anonymous accounts or conducting transactions using private tokens.   

🔍 Key provisions of the AMLR:

• Ban on anonymous crypto wallets and private tokens, including Monero, Zcash, and Dash.

• Mandatory identification for all crypto transactions exceeding 1000 euros.

• Direct oversight of large crypto services by the new AMLA (Anti-Money Laundering Authority). 

📉 Market impact:

Following the announcement of the ban, prices for Monero and Zcash fell, and traders began seeking alternative jurisdictions with more lenient regulations, such as Dubai.