EU Authorities to Ban Monero, Zcash and Other Anonymous Cryptocurrencies
EU authorities intend to introduce comprehensive anti-money laundering (AML) regulations, which will impose a ban on anonymous cryptocurrencies starting in 2027. According to the new directive, credit institutions, financial entities, and crypto-asset service providers (CASP) will be prohibited from servicing anonymous accounts or working with privacy-preserving cryptocurrencies such as Monero (XMR) and Zcash (ZEC).
"Credit institutions, financial entities, and crypto-asset service providers are prohibited from maintaining anonymous accounts," states the Anti-Money Laundering Guidelines.
One of the leading cryptocurrency exchanges, Kraken, began delisting anonymous cryptocurrencies in Europe back in April 2024.
At that time, the European Parliament approved the AML regulation, which will require crypto firms to collect more data about users and their transactions, enhance the monitoring of non-custodial wallets, and abandon privacy-enhancing tools such as crypto-mixers and anonymous cryptocurrencies.
