#EUPrivacyCoinBan The European Union has officially adopted stringent anti-money laundering regulations that will ban privacy-focused cryptocurrencies and anonymous crypto accounts starting July 1, 2027. This move is part of the EU's new Anti-Money Laundering Regulation (AMLR), aiming to enhance transparency and combat illicit financial activities within the crypto ecosystem.

🔒 What’s Being Banned?

Under the AMLR, the following will be prohibited across the EU:

Privacy coins: Cryptocurrencies that enable anonymous transactions, such as Monero (XMR), Zcash (ZEC), and Dash (DASH), will no longer be supported by exchanges and financial institutions.

Anonymous crypto accounts: Crypto service providers, including exchanges and financial institutions, will be banned from offering services that don't collect customer identification.

Anonymous wallets: The use of wallets that allow for anonymous transactions will be prohibited.

🏛️ Who Will Enforce This?

To ensure compliance, the EU is establishing a new agency called the Anti-Money Laundering Authority (AMLA).