EU to Ban Anonymous Crypto Accounts by 2027

The European Union is set to implement sweeping Anti-Money Laundering (AML) rules, banning privacy-preserving tokens and anonymous cryptocurrency accounts starting in 2027. Credit institutions, financial institutions, and crypto-asset service providers (CASPs) will be prohibited from maintaining anonymous accounts or handling privacy coins like Monero (XMR) and Zcash (ZEC). The regulation also increases oversight of CASPs, with direct AML supervision for those operating in at least six member states. This is part of a broader EU push to regulate the crypto industry.