#EUPrivacyCoinBan The European Union has announced a comprehensive ban on privacy coins and anonymous cryptocurrency accounts, set to take effect on July 1, 2027. Under the new Anti-Money Laundering Regulation (AMLR), financial institutions and crypto-asset service providers (CASPs) will be prohibited from handling privacy-focused cryptocurrencies like Monero (XMR), Zcash (ZEC), and Dash. The regulation mandates strict customer due diligence, requiring identity verification for all crypto transactions exceeding €1,000. This move aims to enhance financial transparency and combat illicit activities by eliminating untraceable digital assets. While regulators view this as a step toward a safer crypto environment, critics argue it compromises user privacy and could drive innovation to more permissive jurisdictions.