EU to Ban Privacy Coins Like XMR, Anonymous Crypto Accounts by 2027; France Bans Mixers, Self-Custody Allowed

The European Union has announced plans to ban privacy coins and anonymous cryptocurrency accounts by 2027. This regulatory move will prohibit exchanges from listing privacy-focused cryptocurrencies such as Monero (XMR) and Zcash (ZEC), effectively limiting the use of these coins within the EU. However, the EU will still allow self-custody of cryptocurrencies like Bitcoin, meaning individuals can legally hold their own assets on hardware wallets such as Ledger. Peer-to-peer transactions, where cryptocurrencies are sent directly between users without intermediaries, will also remain permissible. France has already implemented a ban on mixers and privacy coins, and the EU’s forthcoming ban extends these restrictions across member states. The European Data Protection Board has additionally recommended that blockchain data be deleted to comply with privacy regulations. Observers have noted that other countries, including Canada, may follow the EU’s lead in regulating privacy coins and anonymous wallets. This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz . To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

Source: The Defiant