The European Union has formally approved the Anti-Money Laundering Regulation (AMLR) to enhance regulatory oversight of the crypto industry. As part of these sweeping changes, the EU will ban the use of privacy coins such as Monero, Zcash, and Dash.
Anonymous crypto wallets will also be prohibited.
Beginning in 2027, all crypto transactions exceeding €1,000 will require mandatory identity verification, even for peer-to-peer transfers.
A new EU-level Anti-Money Laundering Authority (AMLA) will be established to supervise and enforce compliance, especially for large crypto service providers.
The move aims to close regulatory loopholes and reduce the risk of illicit financial activity, but it has sparked concerns among privacy advocates and crypto users who argue it could hinder financial freedom and innovation.
