**🚨🇪🇺 The European Union bans privacy coins! #EUPrivacyCoinBan | What does this mean for the future of Monero and Zcash?**
The European Union has announced a **ban on the trading and storage of privacy coins** such as **Monero (XMR)**, **Zcash (ZEC)**, and **Dash (DASH)**, in a controversial move to "combat money laundering". Here’s a quick analysis of the impact of this decision:
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### **🔍 What are privacy coins?**
Digital currencies that prioritize **user anonymity** through technologies such as:
- **Ring signatures** (Monero)
- **Shielded transactions** (Zcash)
- **Coin mixing** (Dash PrivateSend)
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### **📌 Details of the new ban:**
✅ Prohibiting European exchanges from trading privacy coins by **2025**.
✅ Imposing fines on users who hold them in unregulated wallets.
✅ Exempting "semi-private" coins like **Bitcoin** with the application of KYC/AML regulations.
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### **📊 Direct impact on the market:**
📉 **XMR price collapsed by 32%** within 24 hours (biggest loser).
📉 **ZEC and DASH declined** by more than 20%.
📈 **Rise of transparency coins** like BTC and ETH as a safe alternative.
