The European Union has officially adopted the Regulation on Anti-Money Laundering, paving the way for a ban on privacy coins and anonymous cryptocurrency accounts starting July 1, 2027. According to the new rules, financial institutions and crypto asset service providers will no longer be allowed to hold or manage accounts that permit anonymous transactions or support privacy-focused cryptocurrencies such as Monero (XMR), Zcash (ZEC), and Dash.

The AMLR regulation also mandates identity verification for crypto transactions above €1,000, aiming to strengthen anti-money laundering controls in the crypto space. To oversee these measures, the EU will establish the Anti-Money Laundering Authority (AMLA), directly supervising up to 40 major CASPs from the member states.