EU to ban privacy coin services under new AML rules from July 2027

The European Union (EU) will introduce revised Anti-Money Laundering (AML) regulations starting in July 2027, according to CryptoNews. Under the new rules, Crypto Asset Service Providers (CASPs) will be required to perform enhanced Know Your Customer (KYC) procedures for one-time transactions of €1,000 or more. Additionally, the operation of anonymous accounts and services related to privacy coins will be completely banned.