#EUPrivacyCoinBan

The European Union officially approved the Anti-Money Laundering Regulation (AMLR), which includes a complete ban on anonymous cryptocurrencies (privacy coins) such as Monero, Zcash, and Dash, starting from July 1, 2027.

Key points:

Ban on anonymous currencies: Trading or providing services for any currency that focuses on hiding identity is prohibited.

Prohibition of anonymous accounts: All cryptocurrency service providers must implement "Know Your Customer" (KYC) procedures.

Transaction tracking: The identity of the sender and recipient must be verified for transactions exceeding 1000 euros.

Establishment of a new supervisory body (AMLA): To monitor compliance of major service providers in the European market.

Impact:

The decision aims to combat money laundering and terrorism financing, but raises concerns about undermining the privacy of ordinary users, journalists, and activists.