The European Commission announced a comprehensive ban on privacy-focused cryptocurrencies, such as Monero (XMR), Zcash (ZEC), and Dash, as well as anonymous crypto accounts, effective July 1, 2027. This decision comes within the framework of the new Anti-Money Laundering Regulation (AMLR), aimed at enhancing financial transparency and combating illegal activities in the digital assets space.

Monero and Zcash prices have seen a notable decline following the announcement, with XMR dropping by 7.2% and ZEC by 5.8% within a few hours.

On the other hand, privacy advocates have expressed concern that this move could undermine innovation and restrict digital freedoms, while regulators view it as necessary to combat financial crimes.

In the end, if you hold any of these currencies or use anonymous wallets, it is advisable to review your options before the ban takes effect in July 2027.