#EUPrivacyCoinBan This measure is part of the new Anti-Money Laundering Regulation (AMLR), which aims to align the cryptocurrency sector with traditional financial compliance standards.

According to Article 79 of the AMLR, financial institutions and cryptocurrency service providers (CASPs) will be prohibited from maintaining anonymous accounts or supporting tokens that preserve transaction privacy. Furthermore, all transactions above 1,000 euros will require the verification of the identity of those involved.

Critics argue that the ban could compromise the financial privacy of legitimate users, such as journalists and activists, and inhibit innovation in the sector. On the other hand, regulators argue that the measure is essential to prevent financial crimes and strengthen transparency in the cryptocurrency market.

With the implementation of these rules, it is expected that companies in the sector will adjust their operations to comply with the new regulatory requirements, marking a significant change in the landscape of cryptocurrencies in Europe.