#EUPrivacyCoinBan

The European Union announced that it will ban privacy coins and anonymous wallets by July 2027 as part of its new anti-money laundering regulation (AMLR).

This means that cryptocurrencies like Monero (XMR), Zcash (ZEC), and Dash will no longer be usable within the European bloc.

The measure aims to increase transparency in the crypto sector and prevent anonymous financial transactions, requiring that all transfers above 1,000 euros undergo identity verification.

Additionally, a new regulatory authority, the AMLA, will directly supervise crypto service providers (CASPs) in at least six EU countries.