🇪🇺 The EU will ban anonymous crypto wallets and privacy coins from 2027

🖥 The European Union has approved new Anti-Money Laundering Regulation (AMLR) rules that will prohibit the use of anonymous crypto accounts and private tokens, including Monero (XMR) and Zcash (ZEC), starting in 2027.

🗣️ According to Article 79 of the AMLR, financial institutions and crypto service providers (CASPs) will be prohibited from:

🟠 opening or servicing anonymous accounts,

🟠 working with crypto assets that provide complete anonymity of transactions.

🗣️ The regulation also provides for:

🟠 mandatory customer verification for transactions over 1,000 euros;

🟠 direct AMLA supervision of CASPs operating in six or more EU countries;

🟠 selection of 40 companies for enhanced supervision starting July 2027.

🗣️ The new regulation complements previous EU initiatives under MiCA and the AML package and aims to curb the abuse of crypto instruments in the context of money laundering.