EU Bans Anonymous Crypto Accounts by 2027 – New AML Regulation

The European Union is implementing a sweeping Anti-Money Laundering (AML) regulation that will ban anonymous cryptocurrency accounts and privacy-preserving tokens by 2027. Under the new AML Regulation (AMLR), financial institutions and crypto asset service providers (CASPs) are prohibited from maintaining anonymous accounts or dealing with such cryptos, according to sources including the European Crypto Initiative (EUCI). The regulation is part of a broader AML framework that encompasses bank and payment accounts, passbooks and safe-deposit boxes.