EU moves to ban privacy coins and anonymous wallets by 2027

Quick Summary:

The European Union has finalized its decision to ban privacy coins and anonymous cryptocurrency wallets by July 1, 2027, marking a decisive turn in the bloc’s anti-money laundering (AML) strategy.

The ban is accompanied by the formation of a centralized enforcement body—the Anti-Money Laundering Authority (AMLA)—which will oversee the implementation of the new framework.

Monero (XMR) and Zcash (ZEC) saw significant price declines following the announcement.XMR dropped 7.2% from $128.45 to $119.20, while ZEC declined by 5.8% to $21.76 within two hours of the news on May 2, 2025.

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Article Details

Author / Journalist: Zayan

Category: Crypto

Markets: United Arab Emirates

Topics: EU Market News Privacy Market Updates

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-03 @ 12:17:25 (1 days ago)

News Timezone: GMT +0:00

News Source URL: thenewscrypto.com

Language: English

Article Length: 426 words

Reading Time: 3 minutes read

Sentences: 29 lines

Sentence Length: 15 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © TheNewsCrypto

News ID: 28336846

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About TheNewsCrypto

Main Topics: Crypto

Official Website: thenewscrypto.com

Update Frequency: 7 posts per day

Year Established: 2020

Headquarters: United Arab Emirates

News Last Updated: 14 hours ago

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