#EUPrivacyCoinBan The European Union has officially adopted the Anti-Money Laundering Regulation (AMLR), introducing significant changes to the landscape of cryptocurrencies within its jurisdiction. Starting from July 1, 2027, the regulation will prohibit the use of privacy-focused cryptocurrencies and anonymous cryptocurrency accounts throughout the European Union.

The main provisions of the regulation

Prohibition of privacy cryptocurrencies: Cryptocurrencies that prioritize user anonymity, such as Monero (XMR), Zcash (ZEC), and Dash (DASH), will be banned. Cryptocurrency service providers (CASPs) will also be prohibited from listing or supporting these tokens.

Prohibition of anonymous accounts: The regulation requires the elimination of anonymous cryptocurrency accounts. All users must undergo "know your customer" (KYC) procedures to access cryptocurrencies.