The #EUPrivacyCoinBan refers to the European Union's proposed regulation to ban privacy-focused cryptocurrencies, known as "privacy coins," like Monero (XMR) and Zcash (ZEC). This move aims to increase transparency in digital transactions and combat illicit activities such as money laundering and terrorism financing. Key aspects of the ban include ¹ ²:

- *Ban on Anonymous Accounts*: Financial institutions and crypto-asset service providers will be prohibited from maintaining anonymous accounts or handling privacy-preserving cryptocurrencies.

- *Identity Verification*: All crypto transactions over €1,000 will require identity verification starting in 2027.

- *Anti-Money Laundering Authority*: A new authority will be established to oversee compliance across EU member states.

- *Impact on Privacy Coins*: Coins like Monero and Zcash may see a decline in usage and value within the EU, while platforms relying on them could face regulatory challenges.

The ban is expected to take effect on July 1, 2027, and its implications are still being debated among cryptocurrency enthusiasts and regulators ¹.