Citing TheCCPress, the European Union has enacted the Anti-Money Laundering Regulation (AMLR), banning privacy coins like Monero, Zcash, and Dash from EU-regulated platforms. Effective July 1, 2027, the regulation mandates ID verification for crypto transactions over €1,000 and prohibits cash payments exceeding €10,000. The regulation increases compliance costs for exchanges and wallet providers, potentially reducing liquidity and trading volumes for privacy coins. The European Parliament and Council led the initiative, supported by the AMLA and European Banking Authority. Privacy advocates have expressed concerns over the impact on privacy rights, while the regulation strengthens EU oversight of digital asset transactions.
EU Enforces Crypto ID Verification and Bans Privacy Coins from 2027
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