The European Union has approved anti-money laundering rules that will ban regulated crypto firms from supporting privacy coins while leaving direct Bitcoin transfers between private wallets outside the scope of mandatory identification requirements. According to Regulation (EU) 2...
- The EU has approved new AML rules set to ban regulated crypto firms from supporting privacy coins starting July 2027.
- Direct Bitcoin transfers between private, self-hosted wallets will remain outside EU identity verification requirements, but regulated platforms will face stricter KYC for transactions over €1,000.
- The regulation also introduces a €10,000 cash payment cap and expands AML obligations to new sectors like football clubs and luxury goods dealers.
Topics: Legal regulatory, Blockchain usage, Compliance, Securities law classification, Private enterprise ledgers, Aml antimoneylaundering, Kyc proof of identity
Tags: #eu #privacycoins #bitcoin #aml #kyc #cryptoregulation #antimoneylaundering #selfhostedwallets #cashpaymentlimit
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