EU Cracks Down on Crypto with €10K Cash Limit and Stricter AML Rules

The European Union has introduced new anti-money laundering regulations that will take effect in July 2027. The rules include a €10,000 limit on commercial cash payments, stricter customer verification requirements for cryptocurrency service providers, and restrictions on anonymous crypto services.

The new regulation also expands the list of sectors that must comply with anti-money laundering requirements, including professional football clubs, crowdfunding platforms, investment migration operators, luxury goods dealers, and high-value vehicle, boat, and aircraft sellers.

Regulated providers will be required to conduct customer due diligence for occasional crypto transactions worth €1,000 or more. Customer identification requirements will also apply to transactions below €1,000, although full verification procedures may not be necessary.