#EUPrivacyCoinBan

This transformation represents a significant step towards stricter regulation of the cryptocurrency world in Europe, which may affect how digital assets are used and traded in the future.

The European Union has announced new stringent measures aimed at ending anonymity in the cryptocurrency world, as part of the Anti-Money Laundering Regulation (AMLR) that will come into effect on July 1, 2027.

Ban on privacy-enhanced currencies: Cryptocurrencies focused on transaction anonymity, such as Monero (XMR), Zcash (ZEC), and Dash (DASH), will be banned within the European Union.

Ban on anonymous accounts and wallets: Providers of crypto asset services (CASPs) and financial institutions will be prohibited from offering anonymous accounts or wallets.

Mandatory identity verification: All transactions exceeding 1000 euros will require full verification of the sender's and receiver's identities, bringing transparency similar to traditional banking standards.