#EUPrivacyCoinBan #EUPrivacyCoinBan

A key element is the new *** Anti-Money Laundering Regulation (AMLR) ***, which is part of a broader EU legislative package to combat financial crime. This package was in June 2024 published in the Official Journal of the EU.

What AMLR means for privacy coins and anonymity in cryptocurrencies:

* Prohibition for service providers: AMLR prohibits regulated entities, such as banks, financial institutions, and crypto-asset service providers (CASPs) – which includes cryptocurrency exchanges – from offering or managing:

- Anonymous crypto accounts or wallets: It is not possible to have an account or wallet with a regulated provider without identity verification (KYC - Know Your Customer).