⚖️ EU to Ban Privacy Coins & Anonymous Wallets by 2027
The European Union is moving forward with strict new rules under the Anti-Money Laundering Regulation (AMLR), set to take full effect by July 1, 2027. These regulations are designed to boost transparency and crack down on financial crime in the crypto space.
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🚫 What’s Being Banned?
The AMLR will prohibit:
❌ Use and handling of privacy coins like Monero (XMR) and Zcash (ZEC)
❌ Anonymous wallets and unverified crypto transfers
❌ Self-custody addresses that operate without identity checks
In short: No room for anonymity.
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🕵️♂️ AML Oversight & Enforcement
The EU plans to:
🔍 Target up to 40 high-risk crypto providers across 6+ countries
✅ Apply scrutiny to platforms with:
20,000+ customers, or
€50M+ in annual transactions
📈 Market Reaction: Monero Pumps Despite Crackdown
Interestingly, despite the looming regulations, privacy coins are surging:
Monero (XMR) spiked +50% recently
Price hit $317 after reports emerged of $330M in stolen BTC being converted to XMR by hackers
The surge was brief before prices corrected.
