#EUPrivacyCoinBan
## EU Privacy Coin Ban: Key Details
**Overview**
The European Union has adopted the Anti-Money Laundering Regulation (AMLR), which will ban anonymous crypto accounts and privacy coins starting in 2027.
**What Will Be Banned?**
- Privacy coins such as Monero (XMR), Zcash (ZEC), and Dash will be prohibited for use by crypto service providers.
- Anonymous crypto wallets and accounts will no longer be allowed.
**Scope and Implementation**
- The ban targets credit institutions, financial institutions, and crypto asset service providers (CASPs), preventing them from handling privacy coins or maintaining anonymous accounts.
- All crypto transactions over €1,000 will require identity verification.
- A new AML authority will oversee compliance by large platforms.
- The rules are finalized, but some technical details will be set through additional regulations before 2027.
**Purpose**
The regulations aim to combat money laundering and terrorist financing by increasing transparency and oversight in the crypto sector.
**Timeline**
- The ban and new requirements take effect in 2027 across the EU.
