EU Enforces Crypto ID Requirement & Bans Privacy Coins

The European Union is implementing stricter regulations for cryptocurrencies, mandating identification for significant transactions and banning privacy-focused coins. These changes aim to combat money laundering and strengthen financial oversight. Effective July 1, 2027, EU-based platforms will require ID verification for transactions exceeding €1,000. This measure specifically targets privacy coins like Monero, Zcash, and Dash, which are being prohibited from use on EU-regulated platforms.