#EUPrivacyCoinBan

European Union has officially banned privacy coins and anonymous cryptocurrency accounts as part of its new Anti-Money Laundering Regulation (AMLR). This regulation, set to take effect on July 1, 2027, aims to increase transparency in digital financial transactions and combat illicit activities like money laundering and terrorism financing.

*Affected Privacy Coins:*

- *Monero (XMR)*: Known for its private and untraceable transactions

- *Zcash (ZEC)*: Offers selective transparency, allowing users to shield their transactions

- *Dash*: Features a private spending option