#EUPrivacyCoinBan Privacy starting from 2027 under the new comprehensive anti-money laundering regulations targeting service providers and privacy-preserving tokens.

The European Union is set to impose comprehensive anti-money laundering (AML) rules that will prohibit privacy-preserving tokens and anonymous cryptocurrency accounts starting in 2027.

Under the new Anti-Money Laundering Regulation (AMLR), credit institutions, financial institutions, and cryptocurrency asset service providers (CASPs) will be prohibited from maintaining anonymous accounts or dealing with privacy-preserving cryptocurrencies.

Article 79 of the Anti-Money Laundering Law imposes a strict ban on anonymous accounts [...]. Credit institutions, financial institutions, and cryptocurrency asset service providers are prohibited from maintaining anonymous accounts, according to the anti-money laundering guidelines issued by the European Crypto Initiative (EUCI).

This regulation is part of a broader framework for combating money laundering that includes bank accounts, payment accounts, savings accounts, and trust funds, as well as "cryptocurrency asset accounts that allow transaction anonymity," and "accounts that use coins that enhance anonymity."

"The regulations (AMLR, AMLD, and AMLAR) are final, and what remains are the 'fine details' - or the interpretation of certain requirements through what are known as implementing laws."