EU Cracks Down on Anonymous Crypto Accounts and Cash Payments

The European Union is set to implement comprehensive anti-money laundering (AML) legislation in July 2027. The new Anti-Money Laundering Regulation (AMLR) will ban anonymous crypto accounts and privacy-centric cryptocurrencies from being listed on regulated platforms across the bloc.

The rules will also prohibit cash payments above €10,000 and urge crypto-asset service providers to implement more stringent customer identification processes.

Crypto transactions of more than €1,000 will be subject to enhanced verification requirements, bringing crypto compliance rules in line with traditional financial institutions.