#EUPrivacyCoinBan There are important regulatory news coming from the European Union that will significantly change the rules of the game for cryptocurrencies over there. The EU has officially approved its new anti-money laundering package (known as AMLR), which includes specific measures that directly affect us, the crypto users. Let me tell you the most important points so you can stay informed!

What Changes with the New Rules? (They will come into full effect by around 2027)

This is what you need to know about how it will affect regulated platforms (exchanges, custodians, etc.) operating in the EU:

* Goodbye to Anonymous Crypto Accounts! 👤❌: Regulated platforms will be prohibited from offering anonymous accounts or wallets. If you want to use a regulated exchange or service in the EU, they will need to know who you are (KYC). Clarification: This affects services; the law does not prohibit having your own wallet (self-custody), but it complicates interacting anonymously with platforms.

* Privacy Coins Are Out (on Regulated Exchanges): The rules will also prohibit these platforms from offering or facilitating transactions with privacy coins like Monero (XMR), Zcash (ZEC), Dash, and similar ones. In practice, this means that these coins will disappear from the listings of regulated exchanges in Europe. 🚫

* Mandatory KYC over €1000: For any crypto transaction you make through a regulated platform that exceeds 1000 euros, it will be mandatory for the platform to verify your identity (KYC).