The European Union is preparing to implement extensive Anti-Money Laundering (AML) regulations that will prohibit privacy-preserving tokens and anonymous cryptocurrency accounts starting in 2027. The new Anti-Money Laundering Regulation (AMLR) will forbid credit institutions, financial institutions, and crypto asset service providers from maintaining anonymous accounts or dealing with privacy-preserving cryptocurrencies like Monero and Zcash. The AMLR's Article 79 outlines strict bans on anonymous accounts, with the European Crypto Initiative (EUCI) publishing the AML Handbook to provide guidance. The regulations, including AMLD and AMLAR, are finalized, with the implementation details to be clarified through implementing and delegated acts. The AMLA will directly supervise CASPs operating in at least six member states, with a selection process starting on July 1, 2027. Additional measures include mandatory customer due diligence for transactions exceeding 1,000 euros. Read more AI-generated news on: https://app.chaingpt.org/news