#EUPrivacyCoinBan

The European Union is intensifying its crackdown on cryptocurrency privacy through the Anti-Money Laundering Regulation (AMLR). This legislation aims to eliminate anonymous crypto transactions by imposing strict Know Your Customer (KYC) requirements on all crypto transfers, regardless of amount. Notably, it bans privacy coins like Monero (XMR), Zcash (ZEC), and Dash (DASH), as well as privacy-enhancing tools such as mixers. Additionally, self-hosted wallets will face heightened scrutiny, with service providers required to verify user identities and transaction details. Industry stakeholders, including exchanges like Coinbase, have expressed concerns over potential privacy violations and legal challenges. While proponents argue these measures are essential for combating illicit activities, critics view them as significant encroachments on personal financial freedoms.