#EUPrivacyCoinBan 🔐 Main content of the ban

• Ban on privacy cryptocurrencies: Cryptocurrencies such as Monero (XMR), Zcash (ZEC), and Dash, which are designed to conceal transaction information and user identities, will be completely banned in the EU. 

• Ban on anonymous accounts: Financial institutions and crypto asset service providers (CASPs) will not be allowed to maintain or manage anonymous accounts. 

• Identity verification for large transactions: Any cryptocurrency transaction exceeding 1,000 euros will require identity verification of both the sender and the receiver. 

• Oversight by the Anti-Money Laundering Agency (AMLA): The EU will establish the AMLA to directly monitor around 40 major crypto asset service providers operating in at least 6 member countries, with over 20,000 users or processing transactions over 50 million euros annually.