#EUPrivacyCoinBan

The term #EUPrivacyCoinBan refers to discussions and regulatory measures in the European Union (EU) related to the ban or restriction of privacy-focused cryptocurrencies, known as privacy coins. These coins, such as Monero (XMR), Zcash (ZEC), and Dash (DASH), utilize technologies that obscure transaction details, making it difficult to trace senders, recipients, and amounts involved.

🧩 Regulatory Context in the European Union

The EU has intensified efforts to combat money laundering and the financing of terrorism in the crypto assets sector. In May 2023, Binance announced that it would stop offering 12 privacy coins in countries such as France, Italy, Spain, and Poland, starting from June 26, 2023. This decision was motivated by local regulatory requirements demanding greater transparency in crypto asset transactions.

However, after feedback from the community and affected projects, Binance revised its position. On June 26, 2023, the exchange announced that it had reassessed the classification of privacy coins on its platform to comply with EU regulatory requirements, allowing the continued support for some of these coins.

Affected Coins

Initially, the following coins were on the removal list:

Monero (XMR)

Zcash (ZEC)

Dash (DASH)

Decred (DCR)

Horizen (ZEN)

PIVX (PIVX)

Navcoin (NAV)

Secret (SCRT)

Verge (XVG)

Firo (FIRO)

Beam (BEAM)

MobileCoin (MOB)

After the review, some of these coins, such as Verge (XVG) and Secret (SCRT), remained available for trading on Binance in certain EU countries.

📜 Implications of MiCA

The MiCA regulation (Markets in Crypto-Assets), approved in May 2023, establishes guidelines for the crypto asset market in the EU. Among its provisions, it highlights the requirement for exchanges to monitor transactions, which directly impacts privacy coins. Although MiCA does not explicitly prohibit these coins, it imposes requirements that may limit their trading on centralized platforms.