The European Union has officially approved a new Anti-Money Laundering Regulation (AMLR), which will fundamentally change the rules of the game for the cryptocurrency sector. The new rules will come into force in 2027 and are already causing heated debate in the industry.
What’s changing?
*The end of anonymous wallets:** Cryptocurrency service providers (CASPs) and financial institutions in the EU will be required to identify users. It will become illegal to work with anonymous wallets.
*Ban on confidential cryptocurrencies:** Coins with a high level of anonymity, such as Monero, Zcash and Dash, will be banned or significantly restricted in circulation.
*Identity verification for large transfers:** All crypto transactions over €1,000 will require confirmation of the identity of the sender and recipient.
*New AMLA regulator to be created:** The European Anti-Money Laundering Authority will oversee major crypto platforms and enforce new requirements.
The measures are intended to make digital finance more transparent and secure, although privacy advocates are already sounding the alarm. With Europe officially entering a new era of crypto regulation in 2027, it’s time to get ready for the changes.
