EU Parliament Approves 2027 Ban on Anonymous Crypto Tokens

The European Parliament has given its nod to a ban on anonymous cryptocurrencies within the EU, setting a target implementation date of 2027. The new Anti-Money Laundering Regulation (AMLR), supposedly driven by the imperative to clamp down on money laundering and the financing of terrorism, will likely clamp down on privacy coins such as Monero, ZCash, and others. The new regulations, part of a wider legislative push against illicit financial activities, will effectively prohibit the issuance and trading of cryptocurrencies that do not permit the identification of their users. Specifically, credit institutions, financial institutions, and crypto asset service providers (CASPs) will face a prohibition on maintaining anonymous accounts and handling cryptocurrencies that enhance privacy source: https://medium.com/pivx/eu-parliament-approves-2027-ban-on-anonymous-crypto-tokens-25b967c9cef1?source=rss----430d9242e45e---4