The European Union is set to ban anonymous crypto accounts and privacy coins by 2027 as part of its new Anti-Money Laundering (AML) regulations. This move targets service providers and token anonymity, prohibiting financial institutions and crypto asset service providers from maintaining anonymous accounts or handling privacy-preserving cryptocurrencies like:
- *Monero (XMR)*: A cryptocurrency focused on privacy and anonymity.
- *Zcash (ZEC)*: A decentralized cryptocurrency that offers selective transparency and anonymity.
The regulations aim to prevent money laundering and ensure transparency in cryptocurrency transactions. Centralized crypto projects will need to adapt their internal processes and policies to comply with these new rules ¹.
