New AML rules target privacy coins and anonymous accounts as the EU ramps up crypto oversight.
Source: X
Article 79 of the AMLR states that banks, financial institutions, and crypto-asset service providers (CASPs) can no longer maintain anonymous accounts or support privacy-focused tokens. This also covers Tradfi tools like anonymous bank accounts and even physical safe deposit boxes used for shady dealings. The EU is actively shutting down every backdoor that could be effective in money laundering or illegal activity.
The EU also increases the heat on crypto companies operating across many countries. Starting July 1, 2027, the new European Anti-Money Laundering Authority (AMLA) will begin supervising large crypto firms directly.
The first batch will include 40 companies, at least one from each member state. To qualify, a company must have either,
CASPs must perform customer due diligence for transactions over €1,000 (around $1,100). No more skipping the ID check for “small” transfers.
The EU is making it clear: there’s no more room for anonymous crypto transactions in its financial system. While the details are still in the works, the regulations are already in place. Crypto service providers will make changes, particularly those dealing with privacy coins or cross-border transactions.
For regular users, this is a game-changer. The phase of complete anonymity for EU crypto is officially counting down.
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted risk tolerance levels of the writer/reviewers, and their risk tolerance may differ from yours. We are not responsible for any losses you may incur due to any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments, so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
U.S. spot Ethereum ETFs lost $542.1 million in the week ended October 9, while Solana funds ended a 14-week inflow streak and Bitcoin ETFs shed $681.1 million.
ETH
SOL+1 more
Papertrade says it is restricting exposure onchain and through relayers after manipulation allegations, but the specific limits are not yet public.
HYPE
Avalanche founder Emin Gün Sirer says AI will find code bugs before ECDSA breaks, and names Ripple's code. He did not identify a specific XRP Ledger flaw.
XRP1/ Yesterday was a prime example of why crypto Twitter (and often crypto media) should not be trusted when it comes to crypto policy. Let's debunk claims that the EU is banning anonymous crypto transactions or self-custodial wallets. Here is what’s actually in the EU Anti Money Show more
To say that the EU will totally ban privacy tokens etc, citing AMLR, is false. We're not talking about banning the detention of privacy tokens by any means, etc. The ban is mainly imposed on regulated actors (notably the new CASPs under MiCA). Recital 160 of AMLR clearly states Show more
🚨 🇪🇺 L’Europe interdira les comptes crypto anonymes et les tokens de confidentialité comme $XMR à partir de 2027.
