#EUPrivacyCoinBan The European Union will prohibit privacy coins and anonymous cryptocurrency accounts by July 2027, in an effort to curb the illicit use of cryptocurrencies. The new anti-money laundering (AML) regulations will require identity verification for cryptocurrency transfers exceeding 1,000 euros.

Cryptocurrency service providers (CASP), including exchanges and financial entities, will need to collect customer identification data (KYC) for all users or cease offering services within the EU. This measure aims to establish uniform AML procedures and prevent regulatory arbitrage among EU member states, requiring transparency from all cryptocurrency companies.