The European Union (EU) is preparing to enforce strict new rules targeting money laundering, with major implications for cryptocurrencies. Starting in 2027, privacy-focused digital currencies and anonymous crypto accounts will no longer be allowed under the bloc’s updated anti-money laundering regulations.
This is the latest step in the EU’s ongoing effort to bring the crypto sector in line with traditional financial regulations and eliminate loopholes that could be exploited for illegal activity.
The upcoming Anti-Money Laundering Regulation (AMLR) will apply to banks, financial institutions, and crypto service providers. These entities will be required to stop offering anonymous accounts or supporting privacy-enhancing tokens like Monero. According to AMLR’s Article 79, these types of accounts and coins are no longer permissible.
The AMLR is just one part of a larger framework that also covers other financial services and instruments. It targets anonymous financial products across the board, from bank accounts and payment services to passbooks, safety deposit boxes, and crypto wallets that hide user identities. The EU is aiming to close any loopholes that may allow illicit financial activity to continue undetected.
Vyara Savova, a senior policy expert at the European Crypto Initiative (EUCI), noted that while the main regulations are finalized, the specific implementation details are still being worked out. These will come through what are known as delegated and implementing acts, which are handled by the EU Banking Authority. “The EUCI continues to play a role in shaping these final elements by contributing to public consultations,” she added.
While some of the practical aspects are still in development, Savova emphasized that the general direction is already set. Crypto businesses that fall under the Markets in Crypto-Assets Regulation (MiCA) should begin adjusting their internal systems and compliance protocols to align with the upcoming changes.
One of the key enforcement tools under the framework is the direct supervision of certain crypto service providers, especially those active in at least six EU countries. AMLA, the new authority in charge of enforcing these rules, plans to begin with a selection of 40 companies, ensuring representation from every member state. This selection process will kick off on July 1, 2027.
To qualify for direct oversight, a company must meet specific size requirements. These include having at least 20,000 clients in a member state or handling over €50 million ($56 million) in transactions. Additionally, any crypto transaction above €1,000 ($1,136) will trigger mandatory checks to verify customer identity.
Crypto industry players like Bit Digital Inc. (NASDAQ: BTBT) will be tracking the regulatory changes in major crypto markets like the EU and the U.S. to see how they reshape the trajectory of the industry.
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