#EUPrivacyCoinBan

EU: Ban on Privacy Coins by 2027

The European Union is strengthening its legislation against money laundering with the adoption of the AMLR regulation, which provides for a complete ban on privacy-focused cryptocurrencies (Monero, Zcash, Dash...) and anonymous wallets starting July 1, 2027.

Key points:

Total ban on privacy coins and wallets without KYC.

Mandatory KYC for any crypto transfer exceeding €1,000.

Creation of the AMLA, a new European authority responsible for overseeing crypto service providers in at least 6 member states.

Market reactions:

Monero (-7.2%): $119.20

Zcash (-5.8%): $21.76

Outlook:

The debate between privacy and compliance is intensifying. Technical solutions such as zero-knowledge proofs (ZKP) may emerge as a compromise.