#EUPrivacyCoinBan

The EU is set to ban privacy coins and anonymous crypto accounts by 2027 under new AML regulations. This means exchanges and financial institutions won't be able to handle coins like Monero and Zcash or anonymous wallets. The goal is to increase transparency and fight illicit finance.

While supporters say this will curb illegal activities, critics worry about the impact on financial privacy and innovation. The new Anti-Money Laundering Authority (AMLA) will oversee compliance. This move signals a significant shift in the EU's approach to crypto, aiming for greater regulation and less anonymity.