#EUPrivacyCoinBan

The European Union is intensifying efforts to regulate privacy-focused cryptocurrencies due to concerns over money laundering and illicit activities. In response, Binance announced plans to delist 12 privacy coins, including Monero , Zcash (ZEC), and Dash (DASH), in France, Italy, Spain, and Poland starting June 26, 2023. However, after community feedback and regulatory review, Binance reversed its decision, retaining several coins while still restricting others like XMR and ZEC. The EU's Markets in Crypto-Assets (MiCA) regulation, effective from May 2023, mandates exchanges to monitor transactions, challenging the anonymity that privacy coins offer. Additionally, the European Banking Authority's draft guidance highlights the anti-money laundering risks associated with privacy coins and self-hosted wallets. These developments signal a tightening regulatory environment for privacy coins within the EU.