The EU plans to implement anti-money laundering regulations by 2027, which will prohibit cryptocurrency service providers from supporting cryptocurrencies with anonymous features
TechFlow, May 2 - According to crowdfundinsider, the European Parliament and Council have reached a provisional agreement on the Anti-Money Laundering Regulation (AMLR), planning full implementation by 2027. The regulation will prohibit crypto-asset service providers (CASP) from supporting cryptocurrencies with anonymity features such as Monero and Zcash, and restrict the use of anonymization tools like cryptocurrency mixers. Although self-hosted wallets are not directly banned, their anonymous transaction capabilities will face strict limitations.
Under AMLR, CASPs must conduct customer due diligence for all transactions, including transfers from self-hosted wallets. Additionally, the regulation bans anonymous accounts and requires risk assessments for high-risk privacy wallets and mixing services. Relevant reports are expected to be completed by 2030, three years after the regulation takes effect.
