The European Union (EU) has just approved anti-money laundering regulations (AMLR), expected to take effect from July 1, 2027, completely banning privacy cryptocurrencies such as Monero, Zcash, Dash, and anonymous crypto accounts. This regulation, outlined in Article 79, requires financial institutions and crypto asset service providers (CASPs) to conduct strict identity checks (KYC) for all transactions over 1,000 euros. The aim is to enhance financial transparency, prevent financial crime, with oversight from the new Anti-Money Laundering Authority (AMLA). However, the ban is controversial, as many argue it infringes on privacy rights and stifles technological innovation. Exchanges and investors in the EU need to quickly adapt to comply, while the global crypto market may face significant impacts.