#EUPrivacyCoinBan

The European Union has passed the Anti-Money Laundering Regulation (AMLR), which will ban privacy coins and anonymous crypto accounts starting July 1, 2027. Financial institutions and crypto-asset service providers will no longer be allowed to manage accounts that enable anonymous transactions or support cryptocurrencies like Monero (XMR), Zcash (ZEC), and Dash.

The AMLR requires identity verification for crypto transactions above €1,000 to tighten anti-money laundering controls. The EU will establish the Anti-Money Laundering Authority (AMLA) to oversee these measures, directly supervising major crypto-asset service providers. Supporters argue that these rules will curb illicit activities and improve transparency in digital finance.

However, critics warn that banning privacy coins could undermine financial privacy rights and restrict legitimate uses for activists, journalists, and individuals in oppressive regimes. This regulation raises questions about the future of privacy-preserving technologies in finance. The ban may set a global precedent or push innovation to other regions, sparking a debate about the balance between regulation and individual privacy.