#EUPrivacyCoinBan European Union has enacted comprehensive anti-money laundering regulations that will significantly impact the cryptocurrency landscape, particularly concerning privacy-focused digital assets.

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🔒 Key Provisions of the EU's Anti-Money Laundering Regulation (AMLR)

Ban on Privacy Coins: Effective July 1, 2027, the EU will prohibit the use of privacy-centric cryptocurrencies such as Monero (XMR), Zcash (ZEC), and Dash. These coins, known for their transaction anonymization features, will no longer be permissible within EU jurisdictions .

Prohibition of Anonymous Crypto Accounts: Financial institutions and crypto-asset service providers (CASPs) will be barred from maintaining anonymous accounts or handling transactions involving privacy-enhancing tokens .

Mandatory Identity Verification: All crypto transactions exceeding €1,000 will require identity verification, aiming to enhance transparency and traceability within the digital asset ecosystem .

Supervision by the Anti-Money Laundering Authority (AMLA): CASPs operating across multiple EU member states will be subject to direct oversight by the newly established AMLA, ensuring compliance with the stringent AMLR provisions .