The European Union (EU) will ban anonymous cryptocurrency accounts and privacy-focused coins like Monero (XMR), Zcash (ZEC), and Dash (DASH) by July 2027 under its new Anti-Money Laundering Regulation (AMLR) . The rules prohibit crypto service providers (CASPs) from handling privacy coins or offering anonymous accounts, requiring full identity verification for transactions over €1,000 . The EU aims to enhance financial transparency and combat illicit activities, but critics argue this undermines privacy and innovation . A new watchdog, the Anti-Money Laundering Authority (AMLA), will oversee compliance, targeting firms with 20,000+ users or €50M+ in annual volume . The move aligns with broader EU crypto regulations like MiCA.
**Key Details:**
- **Ban Effective:** July 1, 2027 .
- **Targeted Coins:** Monero, Zcash, Dash .
- **Thresholds:** €1,000+ transactions require KYC; AMLA supervises large CASPs .
- **Rationale:** AML compliance, but privacy concerns persist .
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