#EUPrivacyCoinBan The European Union proposed a ban on privacy-focused cryptocurrencies, known as privacy coins, such as Monero. The measure is part of new legislation to combat money laundering and the financing of terrorism; the ban is due to the difficulty of tracking transactions made with these coins, which goes against the EU's transparency objectives. If approved, the rule will prevent the use of these cryptocurrencies by regulated companies and services within the European bloc.