#EUPrivacyCoinBan

Privacy Coins to Be Banned in the EU by 2027

The European Union has enacted the Anti-Money Laundering Regulation (AMLR), aiming to enhance financial transparency. Effective July 1, 2027, this regulation will prohibit financial institutions and crypto-asset service providers from maintaining anonymous accounts or handling privacy-focused cryptocurrencies such as Monero (XMR), Zcash (ZEC), and Dash. 

Additionally, the AMLR mandates identity verification for crypto transactions exceeding €1,000. The newly established Anti-Money Laundering Authority (AMLA) will oversee compliance, directly supervising major crypto service providers across EU member states. 

This move underscores the EU’s commitment to combating illicit financial activities but has sparked debate over the balance between security and individual privacy rights.

What are your thoughts on this development?