**The European Union plans to ban anonymous cryptocurrencies and wallets from 2027.
The European Union has announced that new anti-money laundering regulations (AMLR) will take effect on July 1, 2027, banning the use of anonymous cryptocurrencies and wallets. This move is part of a broader effort to increase transparency and combat financial crime in the digital space.
What exactly will be banned?
According to Article 79 of the AMLR, it will be prohibited:
* The use of privacy-focused cryptocurrencies such as Monero (XMR), Zcash (ZEC), and Dash.
Managing anonymous cryptocurrency accounts and wallets that do not allow user identification.
Transactions exceeding 1,000 EUR without user identity verification.
Who will be under supervision?
The newly established Anti-Money Laundering Agency (AMLA) will oversee compliance with these rules. It will focus primarily on cryptocurrency service providers (CASPs) who:
Operates in more than six EU member states.
Serves more than 20,000 customers in one state.
Process transactions worth over 50 million EUR annually.
Impacts on users and the market
This move has triggered mixed reactions. While regulators argue that the measures will help combat illegal activities, critics warn of a loss of financial privacy and potential outflow of innovation from the EU. Some exchanges have already begun to delist anonymous cryptocurrencies, which may affect their availability for European users.
What should users do?
* Check whether they hold anonymous cryptocurrencies and consider their future in the portfolio.
* Monitor announcements from exchanges and wallet providers regarding changes in support for these assets.
* Prepare for new KYC (Know Your Customer) and AML (Anti-Money Laundering) requirements when trading cryptocurrencies.
This regulation represents a significant milestone in the regulation of the cryptocurrency market in the EU and will have far-reaching consequences for users, service providers, and development.
