Summary
- The European Union announced plans to completely ban privacy coins and anonymous virtual asset accounts from 2027.
- According to the new regulations, credit institutions, financial institutions, and cryptocurrency service providers will be prohibited from maintaining anonymous accounts and handling privacy coins.
- The EU's measure is said to be linked to the MiCA regulation aimed at enhancing transparency in the virtual asset industry.
The European Union (EU) will implement new anti-money laundering (AML) regulations banning the use of anonymous virtual assets (cryptocurrencies) accounts and privacy coins from 2027.
On the 2nd (local time), cryptocurrency specialist media Cointelegraph reported, "The EU plans to introduce comprehensive AML regulations banning privacy coins and anonymous cryptocurrency accounts from 2027," adding, "Under the new regulations, credit institutions, financial institutions, and cryptocurrency service providers (CASP) will be prohibited from maintaining anonymous accounts and handling privacy coins."
The media added, "This measure is linked to the EU's comprehensive cryptocurrency regulatory proposal, MiCA, reflecting the European Union's regulatory stance to enhance transparency across the virtual asset industry."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.![[Market] Bitcoin breaks below $68,000 as losses deepen](https://media.bloomingbit.io/PROD/news/3a08fe32-6a33-4a62-bb89-4afb5c5399ca.webp?w=250)
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