#EUPrivacyCoinBan Confidential coins and anonymous crypto wallets may soon become history in the European Union. As part of a large-scale reform aimed at strengthening anti-money laundering rules, the EU has announced plans to ban them by July 1, 2027. The message is clear: cryptocurrency can remain, but it must play by the same rules as the rest of the financial system. Regulators have made it clear that confidential coins will not be tolerated in the EU under the updated anti-money laundering system.

The new rules fall under the updated EU Regulation on anti-money laundering (AMLR), and they have already sparked discussions about privacy, surveillance, and the future of decentralized finance.

What the ban actually covers

This proposal is not just a slap on the wrist. It will completely ban anonymous crypto accounts across the EU. This means that crypto service providers, exchanges, and even financial institutions will be prohibited from offering services that do not collect customer identification data.