#EUPrivacyCoinBan A new regulation on anti-money laundering (AMLR) has been adopted in the European Union, which will come into effect on July 1, 2027. According to this regulation, the use of anonymous cryptocurrency accounts and so-called 'private coins' such as Monero (XMR), Zcash (ZEC), and Dash will be prohibited.

Key provisions of the new regulation:

• Prohibition on anonymous accounts and private coins: Credit institutions, financial organizations, and crypto-asset service providers (CASPs) will not be able to maintain anonymous accounts or process transactions using private coins.

• Tighter KYC requirements: All cryptocurrency transactions exceeding 1,000 euros will require mandatory identification of the sender and recipient.

• Establishment of a new supervisory authority: An Anti-Money Laundering Agency (AMLA) will be established to directly oversee up to 40 major cryptocurrency services operating in several EU countries.