#EUPrivacyCoinBan Confidential coins and anonymous crypto wallets may soon become a thing of the past in the European Union. As part of a major reform to tighten anti-money laundering rules, the EU has announced plans to ban both by July 1, 2027. The message is clear: cryptocurrency may remain, but it must play by the same rules as the rest of the financial system. Regulators are making it clear that confidential coins will not be permitted in the EU under the updated AML framework.

The new rules fall under the updated EU Anti-Money Laundering Regulation (AMLR), and they are already adding variety to discussions about privacy, surveillance, and the future of decentralized finance.

The proposal is not just a slap in the face. It will completely ban anonymous crypto accounts across the EU. This means that crypto service providers, exchanges, and even financial institutions will be prohibited from offering services that do not collect customer identification data.