365int
The European Union is set to implement stringent Anti-Money Laundering (AML) regulations by 2027, which will prohibit anonymous cryptocurrency accounts and privacy-focused tokens such as Monero and Zcash. These measures aim to enhance transparency and combat illicit financial activities within the crypto sector.
Under the new AML framework, credit institutions, financial entities, and crypto-asset service providers (CASPs) will be barred from maintaining anonymous accounts or facilitating transactions involving privacy-enhancing coins. Additionally, customer due diligence will become mandatory for crypto transactions exceeding €1,000.
The regulations also establish the Anti-Money Laundering Authority (AMLA), which will oversee compliance across member states. Initially, 40 entities operating in at least six EU countries will be selected for direct supervision, based on criteria such as customer base and transaction volumes.
While some industry stakeholders view these regulations as necessary for financial security, others express concerns about potential infringements on privacy and the broader implications for the crypto ecosystem in Europe.
