#EUPrivacyCoinBan

The European Union has officially passed the Anti-Money Laundering Regulation, setting the stage for a ban on privacy coins and anonymous crypto accounts starting July 1, 2027. Under the new rules, financial institutions and crypto-asset service providers will no longer be allowed to hold or manage accounts that enable anonymous transactions or support privacy-focused cryptocurrencies like Monero (XMR), Zcash (ZEC), and Dash.

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