#EUPrivacyCoinBan
Today, Sunday, May 4, 2025
⚖️ EU Officially Approves Ban on Privacy Coins & Anonymous Crypto Accounts ⚖️
As of today, the European Union has formally approved its new Anti-Money Laundering Regulation (AMLR) — a sweeping set of rules aimed at tightening oversight on crypto transactions. These regulations are set to take effect in 2027. Here’s what the #EUPrivacyCoinBan means:
🔒 Ban on Privacy Coins
The AMLR will prohibit credit institutions, financial institutions, and crypto-asset service providers (CASPs) from interacting with privacy-centric cryptocurrencies like Monero (XMR), Zcash (ZEC), and Dash. Regulators argue that the high degree of anonymity these coins offer can be misused for illicit activities such as money laundering and other criminal enterprises.
🕵️♂️ End of Anonymous Crypto Accounts
CASPs, including exchanges, will be required to enforce strict Know Your Customer (KYC) procedures for all users. Anonymous crypto accounts will be banned, with mandatory identity verification across the board.
💳 ID Verification for Transactions > €1,000
The AMLR will mandate identity checks for all crypto transactions exceeding €1,000, introducing a tougher compliance standard compared to many other regions.
🏢 New EU Anti-Money Laundering Authority (AMLA)
A dedicated Anti-Money Laundering Authority (AMLA) will launch in July 2027 to oversee enforcement. It will directly supervise around 40 high-risk CASPs operating across six or more EU member states.
📉 Market Impact
Following the announcement on May 2, 2025, privacy coins like Monero and Zcash have already seen price drops and increased selling pressure. Exchanges in the EU will likely be forced to delist or restrict trading of these coins moving forward.
