EU Cracks Down on Crypto Anonymity, Cash Payments Over €10,000 Banned by 2027

The European Union is implementing significant changes to its anti-money laundering (AML) regulations, effective July 10, 2027. The new rules aim to combat financial crime and promote transparency in transactions.

Cash payments exceeding €10,000 will no longer be permitted within the EU, while transactions of €3,000 or more require identity checks. Regulated platforms must delist privacy coins like Monero, Zcash, and Dash by July 2027, although self-custody wallets remain unaffected.

The regulation also establishes a new EU anti-money laundering authority to oversee compliance across the bloc. The AML net has been widened to include sectors outside traditional finance, such as professional football clubs, agents, and luxury goods traders.