The European Union announced that it will ban privacy coins and anonymous wallets by July 2027 as part of its new Anti-Money Laundering Regulation (AMLR).
This means that cryptocurrencies like Monero (XMR), Zcash (ZEC), and Dash will no longer be allowed within the European bloc.
The measure aims to increase transparency in the crypto sector and prevent anonymous financial transactions, requiring that all transfers above 1,000 euros undergo identity verification.
Additionally, a new regulatory authority, the AMLA, will directly oversee crypto service providers (CASPs) in at least six EU countries.
The decision has sparked mixed reactions: while regulators argue that it will help combat financial crimes, privacy advocates warn that it could compromise financial freedom and the safety of activists and journalists.
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