#EUPrivacyCoinBan A new regulation on combating money laundering (AMLR) has been adopted in the European Union, which will come into effect on July 1, 2027. According to this regulation, the use of anonymous cryptocurrency accounts and so-called 'privacy coins', such as Monero (XMR), Zcash (ZEC), and Dash will be prohibited.

Key provisions of the new regulation:

• Ban on anonymous accounts and privacy coins: Credit institutions, financial organizations, and cryptocurrency asset service providers (CASPs) will not be able to maintain anonymous accounts or process transactions using privacy coins.

• Tightening KYC requirements: All cryptocurrency transactions exceeding 1,000 euros will require mandatory identification of the sender and receiver.

• Creation of a new supervisory authority: An Agency for the Fight Against Money Laundering (AMLA) will be established, which will directly oversee up to 40 major cryptocurrency services operating in several EU countries.