EU to Ban Anonymous Cryptocurrencies by 2027
- The European Union will ban anonymous cryptocurrencies like Monero (XMR) and Zcash (ZEC) by 2027.
- Crypto services must eliminate anonymity for transactions over €1,000.
- New regulations are part of the Markets in Crypto-Assets Regulation (MiCA).
- AMLA, a new EU body, will oversee implementation and issue guidelines by 2026-2027.
- Direct supervision is planned for up to 40 crypto service providers across multiple EU countries.
The EU’s updated AML legislation targets anonymity in cryptocurrency transactions, prohibiting privacy-focused coins and requiring identity verification for transfers over €1,000. AMLA will ensure compliance with these rules by overseeing crypto service providers.
Source (2.6)https://hodl.press/eu-aml-rules-to-ban-anonymous-cryptocurrencies-by-2027/?rand=24434
