EU Crypto Regulation: New ID Rules and Privacy Coin Bans Take Effect

The European Union has implemented a major regulatory shift in digital finance with its Anti-Money Laundering Regulation (AMLR), targeting transparency in cryptocurrency transactions. This regulation, approved by the EU Parliament and Council, establishes new requirements for crypto exchanges, wallets providers, and service operators, including a ban on cash payments exceeding €10,000 and ID verification for transactions above €1,000 starting July 1, 2027.