$#EUPrivacyCoinBan The Europeans Union (EU) has announced that it will prohibit privacy coins and anonymous cryptocurrency accounts by July 2027.

The ban targets privacy-focused coins such as Monero and Zcash in a bid to reduce illicit cryptocurrency activities.

New anti-money laundering (AML) regulations require that identity verification (KYC) be conducted for cryptocurrency transactions exceeding 1,000 euros.

Starting July 1, 2027, Europe will implement strict AML standards, making it illegal to operate with privacy coins and anonymous accounts.

Cryptocurrency service providers (CASPs), including exchanges and financial institutions, must collect identification data from all clients or discontinue their services within the EU.

The ban on anonymous crypto accounts and privacy coins is set to take effect in 2027.

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Mr. Man (@MrManXRP) May 2, 2025

Privacy Coins Prohibited, Transaction Oversight Intensified Privacy Coins Prohibited, Transaction Oversight Intensified

New regulations are set to limit transactions involving privacy cryptocurrencies such as Monero (XMR), Zcash (ZEC), and Dash. The EU will prohibit all cryptocurrencies designed to ensure transaction anonymity from operating within its jurisdiction. Regulators assert that these coins facilitate concealed criminal activities and money laundering.

The article “EU's Strict New Crypto Regulations: Privacy Coins, Anonymous Accounts Banned by 2027” originally appeared on Coin Edition.