#EUPrivacyCoinBan The European Union is set to impose sweeping Anti-Money Laundering (AML) rules that will ban privacy-preserving tokens and anonymous cryptocurrency accounts from 2027.

Under the new Anti-Money Laundering Regulation (AMLR), credit institutions, financial institutions and crypto asset service providers (CASPs) will be prohibited from maintaining anonymous accounts or handling privacy-preserving cryptocurrencies, such as Monero and Zcash.

“Article 79 of the AMLR establishes strict prohibitions on anonymous accounts [...]. Credit institutions, financial institutions, and crypto-asset service providers are prohibited from maintaining anonymous accounts,” according to the AML Handbook, published by European Crypto Initiative (EUCI).