#EUPrivacyCoinBan The EU will prohibit anonymous cryptocurrency accounts and virtual currencies by 2027

Europe will ban anonymous crypto accounts and privacy coins starting in 2027 under new and extensive AML regulations aimed at service providers and token anonymity.

The European Union is set to impose extensive anti-money laundering (AML) rules that will prohibit privacy-preserving tokens and anonymous cryptocurrency accounts starting in 2027.

According to the new Anti-Money Laundering Regulation (AMLR), credit institutions, financial institutions, and cryptocurrency asset service providers (CASP) will be prohibited from maintaining anonymous accounts or handling privacy-preserving cryptocurrencies, such as Monero and Zcash.

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