#EUPrivacyCoinBan Will Money Laundering Come to a Halt?
The European Union has announced a new regulation.
This regulation is called the Anti-Money Laundering Regulation (AMLR).
The main goal of this regulation is to strengthen oversight over cryptocurrencies and prevent illegal activities such as money laundering and terrorist financing.
Measures to be taken include:
Blocking access to privacy-focused cryptocurrencies like XMR (Monero) and Zcash.
Requiring identity verification for all crypto transactions over €1,000 starting in 2027.
Establishing a new Anti-Money Laundering authority to oversee major crypto platforms.
