#EUPrivacyCoinBan

The European Union has officially adopted a new Anti-Money Laundering Regulation (AMLR), which prohibits the use of anonymous cryptocurrency wallets and confidential cryptocurrencies such as Monero (XMR), Zcash (ZEC), and Dash (DASH), starting from July 1, 2027.

According to the new rules, all cryptocurrency transactions exceeding 1000 euros will require mandatory user identification, and the newly established European Anti-Money Laundering Authority (AMLA) will oversee large cryptocurrency service providers. These measures are aimed at increasing transparency and combating illegal financial activities; however, they raise concerns about limiting financial privacy and innovation in the cryptocurrency sector.