#EUPrivacyCoinBan The European Union (EU) has been actively addressing concerns related to privacy coins—cryptocurrencies designed to anonymize transactions—due to their potential misuse in money laundering and terrorist financing. In 2023, the European Banking Authority issued guidance urging crypto firms to monitor transactions involving privacy coins and self-hosted wallets, highlighting the associated anti-money laundering (AML) risks .
CoinDesk
+2
coinlive.com
+2
The Block
+2
The Block
+3
CoinDesk
+3
coinlive.com
+3
In response to these regulatory pressures, Binance, a major cryptocurrency exchange, initially announced plans to delist several privacy coins, including Monero (XMR), Zcash (ZEC), and Dash (DASH), for users in France, Italy, Spain, and Poland, effective June 26, 2023. However, following community feedback and further regulatory clarifications, Binance reversed this decision, opting to revise its classification of privacy coins to comply with EU regulations while maintaining support for these assets .
coinlive.com
+6
The Block
+6
Decrypt
+6
Cointelegraph
+3
Binance
+3
FXStreet
+3
This development underscores the EU's commitment to balancing regulatory compliance with the protection of user privacy in the evolving landscape of digital assets.
