#EUPrivacyCoinBan The European Union has officially passed the Anti-Money Laundering Regulation (AMLR), setting the stage for a ban on privacy coins and anonymous crypto accounts starting July 1, 2027. Under the new rules, financial institutions and crypto-asset service providers will no longer be allowed to hold or manage accounts that enable anonymous transactions or support privacy-focused cryptocurrencies like Monero (XMR), Zcash (ZEC), and Dash.

The AMLR also mandates identity verification for crypto transactions above €1,000, aiming to tighten anti-money laundering controls across the crypto space. To oversee these measures, the EU will launch the Anti-Money Laundering Authority (AMLA), directly supervising up to 40 major CASPs across member states.

This move is part of the EU's broader effort to align digital assets with traditional financial systems and reduce illicit economic activity. The ban will have significant implications for users and service providers dealing with privacy-focused cryptocurrencies within the EU.