3-5-2025 – The European Union has ushered in a robust Anti-Money Laundering Regulation (AMLR), set to reshape the landscape of cryptocurrency transactions across its member states. Scheduled to come into force on 1 July 2027, this sweeping legislation introduces stringent measures to curb illicit financial flows, reinforcing the bloc’s commitment to transparency and accountability.
Under the new rules, financial institutions will be barred from facilitating anonymous cryptocurrency accounts or wallets, a step designed to close loopholes exploited by those seeking to obscure their transactions. Privacy-focused cryptocurrencies, including Monero, Zcash, and Dash, will face an outright ban on transactions within the EU, reflecting concerns over their potential misuse in money laundering schemes.
To further tighten oversight, the regulation mandates rigorous identity verification for any crypto transaction surpassing €1,000. This threshold aims to strike a balance between fostering innovation in the digital asset space and safeguarding the financial system from abuse.
A pivotal element of the AMLR is the creation of the Anti-Money Laundering Authority (AMLA), a dedicated body tasked with supervising major cryptocurrency platforms.