EU to mandate ID checks for crypto trades, ban privacy coins from 2027

The European Union will require identity verification for cryptocurrency transactions over €1,000 conducted through exchanges under new anti-money laundering regulations set to take effect on July 1, 2027. Additionally, the trading of privacy coins such as Monero (XMR), Zcash (ZEC), and Dash (DASH) will be completely banned on exchanges within the EU, according to The CC Press.