The EU has passed the AML regulations: starting in 2027, anonymous encryption accounts and Privacy Coin transactions will be prohibited.

According to Gate.io News bot, Cointelegraph reports that the EU has officially passed the Anti-Money Laundering Regulation (AMLR). The regulation states that from July 1, 2027, all financial institutions are prohibited from providing anonymous encryption accounts or wallets with crypto service providers. At the same time, the regulation comprehensively bans trading activities of privacy coins such as Monero, Zcash, and Dash.

The new regulations also clearly state that mandatory identity verification is required for cryptocurrency transactions exceeding 1,000 euros. In addition, the EU will establish a new regulatory body, AMLA, which will be directly responsible for overseeing large cryptocurrency platforms.