European Union to ban anonymous crypto and privacy tokens by 2027

The European Union is set to impose sweeping Anti-Money Laundering (AML) rules that will ban privacy-preserving tokens and anonymous cryptocurrency accounts from 2027. Under the new Anti-Money Laundering Regulation (AMLR), credit institutions, financial institutions and crypto asset service providers (CASPs) will be prohibited from maintaining anonymous accounts or handling privacy-preserving cryptocurrencies. “Article 79 of the AMLR establishes strict prohibitions on anonymous accounts