EU to Ban Privacy Coins, Anonymous Crypto Accounts by 2027

by Didi Rankovich | Reclaim The Net

By 2027, the European Union (EU) is set to use its Anti-Money Laundering regulations (AMLR) to ban privacy cryptocurrencies (crypto-asset accounts allowing anonymization of transactions) and anonymous accounts (accounts using anonymity-enhancing coins).

This is interpreted by observers to be defined in the Markets in Cryptao-Assets Regulation (MiCA).

The European Crypto Initiative (EUCI) has come out with its “AML Handbook” focusing on how AMLR obligations affect crypto asset service providers (CASPs), as well as financial and credit institutions.

These “strict” prohibitions are contained in AMLR Article 79, the key takeaway being that they will be banned from any handling of anonymous accounts. Read Full Article >