#EUPrivacyCoinBan $flm The European Union’s Anti-Money Laundering Regulation (AMLR), set to take effect July 1, 2027, will ban privacy coins like Monero (XMR), Zcash (ZEC), and Dash, as well as anonymous crypto accounts. Credit institutions, financial institutions, and crypto asset service providers (CASPs) will be prohibited from handling these assets or maintaining anonymous accounts, per Article 79 of the AMLR. The regulation also mandates identity verification for crypto transactions over €1,000, aligning with traditional banking standards. A new Anti-Money Laundering Authority (AMLA) will oversee compliance, targeting major CASPs with over 20,000 users or €50 million in annual transactions across at least six EU countries.Critics argue this stifles innovation and undermines financial privacy for legitimate users like activists and journalists. Supporters claim it’s necessary to curb money laundering and illicit finance. Decentralized exchanges (DEXs) may still allow privacy coin trading, but centralized platforms will likely delist them, potentially impacting liquidity and prices. Some X posts suggest defiance, encouraging users to buy more privacy coins, while others warn of broader crypto centralization risks. The full impact depends on implementation details still being finalized by the European Banking Authority.