#EUPrivacyCoinBan

The European Union has finalized its Anti-Money Laundering Regulation (AMLR), set to take effect on July 1, 2027. This regulation will ban privacy coins like Monero (XMR), Zcash (ZEC), and Dash, as well as anonymous crypto wallets and accounts. The AMLR mandates that financial institutions and crypto-asset service providers (CASPs) implement strict Know Your Customer (KYC) protocols, including identity verification for transactions exceeding €1,000. The newly established Anti-Money Laundering Authority (AMLA) will oversee compliance, directly supervising major CASPs operating in multiple EU member states. While regulators argue this enhances transparency and combats illicit activities, critics warn it may infringe on financial privacy and stifle innovation.