EU authorities will ban Monero, Zcash, and other anonymous cryptocurrencies

The ban is aimed at strengthening the fight against money laundering

02.05.2025 - 16:00

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2 min

What’s new? European Union authorities are set to introduce comprehensive anti-money laundering (AML) regulations that envision a ban on anonymous cryptocurrencies from 2027. Under the new regulation, credit institutions, financial institutions, and crypto asset service providers (CASPs) will be prohibited from servicing anonymous accounts or dealing with privacy-preserving cryptocurrencies such as Monero (XMR) and Zcash (ZEC).

Source: X.com

What else is known?

“Credit institutions, financial institutions, and crypto-asset service providers are prohibited from maintaining anonymous accounts,” the AML Handbook states.

The regulation is part of a broader AML framework that includes “crypto-asset accounts allowing anonymisation of transactions,” and “accounts using anonymity-enhancing coins.”

One of the leading crypto exchanges Kraken started delisting anonymous cryptocurrencies in Europe back in April 2024.

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At the same time, the European Parliament approved an AML regulation that will oblige crypto firms to collect more data about users and their transactions, strengthen monitoring of non-custodial wallets, and abandon privacy-enhancing tools such as crypto mixers and anonymous cryptocurrencies.

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