#EUPrivacyCoinBan According to reports, a new anti-money laundering bill proposes a total ban on privacy coins such as Monero, Dash, and Zcash in the European Union.

A draft of the bill seen by CoinDesk states that "credit institutions, financial institutions, and crypto asset service providers will be prohibited from holding […] coins that enhance anonymity."

The move to ban privacy coins that seek to hinder or prevent the tracking of cryptocurrency transactions comes as part of a Czech proposal on a broader anti-money laundering (AML) bill that would also create a new EU-wide agency (AMLA) to oversee large financial institutions, ban large cash transfers, and prohibit non-cryptographic privacy-focused financial instruments, such as bearer shares and anonymous accounts.