#EUPrivacyCoinBan The European Union is set to ban privacy coins and anonymous crypto wallets by 2027 under the new Anti-Money

Laundering Regulation (AMLR) 1 2. This means cryptocurrencies like Monero

(XMR) and Zcash (ZEC)-which are designed to enhance transaction privacy-will no longer be supported by financial institutions and crypto service providers within the EU 2.

The regulation aims to increase transparency in digital transactions and combat financial crimes by prohibiting

pseudonymous crypto accounts and privacy-focused coins 1. Crypto-asset service providers (CASPs) will be required to verify customer identities and monitor transactions, aligning crypto regulations with traditional financial systems