#EUPrivacyCoinBan EUROPE DECLARES WAR ON CRYPTO ANONYMITY: THE END OF AN ERA?

The European Union has made its decision: starting from July 1, 2027, privacy coins such as Monero (XMR), Zcash (ZEC), and Dash (DASH) will be banned from the bloc. The new Anti-Money Laundering Regulation (AMLR) prohibits financial institutions and crypto service providers from maintaining anonymous accounts or dealing with tokens that hinder transaction traceability.

Additionally, any crypto transaction above €1,000 will require identity verification. Oversight will be handled by the new Anti-Money Laundering Authority (AMLA), which will directly supervise up to 40 crypto service providers in at least six member countries.

Critics warn that the measure could stifle innovation and compromise the financial privacy of legitimate users, such as journalists and activists. On the other hand, regulators argue that the initiative is essential to align the crypto sector with traditional compliance standards and prevent the illicit use of digital assets.

With this decision, Europe positions itself as one of the strictest jurisdictions regarding privacy in the crypto space. The impact on decentralized projects and users who value anonymity is still uncertain, but the message is clear: anonymity is running out of time in the Old Continent.