#EUPrivacyCoinBan

The EU is moving to ban privacy-focused cryptocurrencies like Monero and Zcash under new anti-money laundering (AML) regulations. The proposed rules target anonymous crypto transactions, requiring all transfers to be fully traceable. Privacy coins, which obscure transaction details, are seen as high-risk for illicit activities. The ban is part of the EU's broader Markets in Crypto-Assets (MiCA) framework, aiming to enhance financial transparency. Critics argue the measure undermines financial privacy and innovation, while supporters believe it will curb criminal use of crypto. If implemented, exchanges and custodial services would be prohibited from handling privacy coins, potentially pushing them underground. The final decision is pending further negotiations among EU lawmakers.