EUs Ban on Private Tokens Set for 2027 Amid New AML Regulations

Starting in 2027, the EU will implement new anti-money laundering (AML) regulations that will ban anonymous crypto accounts and the use of private coins like Monero and Zcash.

These restrictions will apply to exchanges, banks, and other service providers.

As outlined in Article 79 of the new Anti-Money Laundering Regulation (AMLR) released by the European Crypto Initiative (EUCI), providers will be prohibited from servicing anonymous accounts or dealing with assets that obscure user data.

There will be no exceptions for private tokens.

These regulations are part of a comprehensive reform that will also impact bank accounts, safety deposit boxes, and «crypto assets with anonymization features.»

Vyara Savova, the senior policy manager at EUCI, stated that “the regulations (AMLR, AMLD, and AMLAR) are final, with only the ‘fine print’ remaining.”

Crypto platforms operating in six or more EU countries will fall under the direct supervision of the Anti-Money Laundering Authority (AMLA). By 2027, the regulator will select 40 companies, ensuring at least one from each member state.

Selection criteria will include mandatory user verification for transactions exceeding €1000.

Additionally, it is worth noting that in April, ESMA expressed concerns regarding the integration of the crypto industry with traditional finance (TradFi) structures.