#EUPrivacyCoinBan The European Union (EU) has approved new regulations against money laundering (AML) that will prohibit privacy coins and anonymous cryptocurrency accounts by July 2027.

This means that cryptocurrencies like Monero (XMR), Zcash (ZEC), and Dash (DASH), which offer greater anonymity in transactions, will not be able to be offered by crypto asset service providers (CASPs) within the EU. CASPs, which include exchanges and other financial institutions that work with cryptocurrencies, will be required to collect and verify the identity of their clients for all transactions, especially for transfers over 1,000 euros.