#EUPrivacyCoinBan The European Union has announced a ban on the use of so-called "privacy coins" and anonymous cryptocurrency accounts, which will come into effect on July 1, 2027. This decision is part of the new Anti-Money Laundering Regulation (AMLR), aimed at increasing the transparency of financial transactions in the cryptocurrency sector.

What does the ban cover?

Ban on "privacy coins": Cryptocurrencies that provide a high level of anonymity will be prohibited. This means that financial institutions and cryptocurrency platforms will not be able to offer or support them.

Ban on anonymous accounts: All cryptocurrency accounts will need to be linked to the user's identity. Platforms will be required to implement KYC (Know Your Customer) procedures, which means verifying the identities of users.

Requirement to verify transactions over 1000 euros: Any transaction exceeding this amount will require full identification of the sender and receiver.