EU to implement new anti-money laundering rules in July 2027, fully banning privacy coins and anonymous accounts

CoinFeed June 20 news, according to CryptoNews, the EU will implement revised anti-money laundering (AML) regulations from July 10, 2027. The new rules require crypto-asset service providers (CASPs) to enforce stricter "KYC" procedures for transactions exceeding €1,000, and anonymous accounts and services related to privacy coins will be completely banned. Additionally, a €10,000 (approximately $11,500) cap is set on commercial cash payments within the EU, and for cash transactions worth €3,000 (approximately $3,450) or more, traders and other obliged entities must verify customer identity and conduct due diligence before completing the transaction.