. Privacy coins and anonymous crypto wallets might soon become history in the European Union. As part of a sweeping overhaul to tighten anti-money laundering rules, the EU has announced plans to ban both by July 1, 2027. The message is clear: crypto can stay, but it has to play by the same rules as the rest of the financial system. Regulators make it clear that privacy coins in the EU will not be tolerated under the updated AML framework.
The new rules fall under the bloc’s updated Anti-Money Laundering Regulation, or AMLR, and they’re already shaking up conversations around privacy, surveillance, and the future of decentralized finance.
The proposal isn’t just a slap on the wrist. It would completely outlaw anonymous crypto accounts across the EU. That means crypto service providers, exchanges, and even financial institutions would be banned from offering services that don’t collect customer identification.
https://twitter.com/MrManXRP/status/1918399310334685494?ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow
If you are a fan of privacy-focused cryptocurrencies like Monero (XMR), Zcash (ZEC), or Dash, prepare for a reality check. The EU is targeting these coins specifically, saying they make it too easy to hide transactions and move illicit money undetected.
The regulation also imposes tighter controls on crypto transfers. If the transaction is over 1,000 euros, the identity of the sender and receiver will need to be verified. That brings crypto rules much closer in line with traditional banking.
To make sure the new rules aren’t just words on paper, the EU is setting up a new agency called the Anti-Money Laundering Authority, or AMLA. This body will directly supervise up to 40 crypto asset service providers across at least six EU countries. These companies must have either over 20,000 users or handle more than 50 million euros in annual transactions to be on AMLA’s radar.
DISCOVER: 9+ Best High-Risk, High-Reward Crypto to Buy in March 2025
The goal here is to prevent regulatory patchwork between member states and stop shady actors from hopping borders to find the weakest oversight.
Many have criticized the move. Critics argue that banning privacy coins and anonymous wallets is a heavy-handed approach. It could stifle innovation and undermine personal privacy. These tools, they say, aren’t just for criminals. Activists, journalists, and ordinary people use them to protect financial privacy in an increasingly digital world.
On the flip side, regulators believe this is a necessary step to prevent crypto from being a money launderer’s dream. And with global pressure mounting to bring crypto in line with financial regulations, the EU is positioning itself as a leader in enforcement.
The EU’s 2027 deadline is going to force some serious changes in how crypto operates within its borders. Service providers will need to build out robust know-your-customer systems and rethink how they deal with privacy tools. It’s not yet evident if other regions will follow suit, but one thing is clear: Europe is bringing the freewheeling days of anonymous crypto to an end.
DISCOVER: 20+ Next Crypto to Explode in 2025
Join The 99Bitcoins News Discord Here For The Latest Market Updates
The post Privacy Coins Face EU Ban Under New AML Rules Starting 2027 appeared first on 99Bitcoins.
The Shiba Inu price rally has stalled as trading volume, futures open interest, and its…
Welcome back to TechCrunch Mobility — your central hub for news and insights on the…
The crypto market experienced significant liquidations, totaling around $566.78 million, or about ₱31.47 billion, in…
Key Takeaways Bitcoin reached a new weekly high, closing above $106,000 and nearing its all-time…
If you thought the death of Joel (Pedro Pascal) would be the most heartbreaking part…
Corporate treasuries could spark an economic revolution as bitcoin accumulation strategies reshape capital allocation and…