#EUPrivacyCoinBan relates to the planned ban by the European Union on privacy-focused cryptocurrencies (so-called "privacy coins") and anonymous crypto wallets.

Here are the key points:

‼️ Essence of the ban: The EU has officially approved the Anti-Money Laundering Regulation (AMLR), which will come into effect on July 1, 2027. One of the most controversial parts of this law is the ban on privacy coins such as Monero (XMR), Zcash (ZEC), and Dash.

‼️ Purpose: The ban aims to strengthen the fight against money laundering and the financing of terrorism in the crypto space. Regulators argue that such coins can be used to conceal illegal operations.

‼️ Timelines: The ban is expected to come into effect by July 2027.