EU's Upcoming AML Rules to Impact Privacy Tokens and Anonymous Crypto Accounts

According to Cointelegraph, the European Union is preparing to implement stringent Anti-Money Laundering (AML) regulations by 2027, which are expected to significantly affect privacy-preserving tokens and anonymous cryptocurrency accounts. Under the new AML Regulation (AMLR), credit institutions, financial institutions, and crypto asset service providers (CASPs) will be prohibited from maintaining anonymous accounts or handling privacy-focused cryptocurrencies. This development has sparked ongoing debates between blockchain industry participants and regulators over privacy rights. Anja Blaj, an independent legal consultant and policy expert at the European Crypto Initiative, highlighted the ongoing struggle to maintain access to privacy-preserving coins like Monero (XMR) source: https://www.binance.com/en/square/post/29806820070970?utm_source=BinanceNewsRSS