Monero, Zcash, and Dash banned in European Union – EU new crypto laws

The European Union has passed the Anti-Money Laundering Regulation – AMLR, that would ban all cryptocurrency exchanges from offering anonymous cryptocurrency accounts or wallets starting July 1, 2027. This is bad news for all privacy cryptocurrencies that are being traded in the EU. 

Privacy coins like Monero, Zcash, and Dash will banned in the EU. The new rules require mandatory ID verification for crypto transactions over €1,000 and establish AMLA to directly oversee major crypto platforms. 

If you ask us, it would be extremely tough to enforce this law. A cryptocurrency user could simply side load a crypto wallet that supports Monero, Zcash, and Dash cryptos and manage them the way they used to do. Android users can easily do that. 

The EU and its AMLR? It’s just a new toy for censors. Banning anonymous wallets and privacy coins? It’s like banning books from libraries. They want to monitor us, not protect us. 

However, all these laws will be a big blow to users of Monero, Zcash, and Dash as it can be detrimental to their price action. Less people will want to own something that is getting banned everywhere and getting delisted by their local cryptocurrency exchanges.