EU new regulations to combat money laundering: From 2027, a factual ban on privacy coins for loans and financial institutions threatens

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Neue EU-Vorschriften zur Bekämpfung von Geldwäsche: Auswirkungen auf Privacy Coins Ab dem Jahr 2027 treten neue Vorschriften der Europäischen Union in Kraft, die erhebliche Auswirkungen auf den Handel und die Verwendung von Privacy Coins haben werden. Diese Richtlinien zielen darauf ab, Geldwäsche und andere illegale Aktivitäten im Zusammenhang mit Kryptowährungen effektiver zu bekämpfen. Gemäß den …
New EU regulations to combat money laundering: Effects on Privacy Coins From 2027 new regulations of the European Union will come into force, which will have a significant impact on trade and use of privacy coins. These guidelines aim to combat money laundering and other illegal activities in connection with cryptocurrencies more effectively. According to the ... (Symbolbild/KNAT)

New EU regulations to combat money laundering: Effects on Privacy Coins

From 2027, new regulations of the European Union will come into force, which will have a significant impact on trade and use of privacy coins. These guidelines aim to combat money laundering and other illegal activities in connection with cryptocurrencies.

According to the new regulations, credit and financial institutions as well as crypto service providers are obliged to meet certain transparency requirements. This means that these institutions are obliged to collect and disclose information about their customers and their transactions. In practice, this leads to a factual ban on privacy coins that are designed to enable anonymized transactions.

Privacy coins, such as Monero or Zcash, users offer the opportunity to keep their financial transactions privately and anonymously. This characteristic, which for many users makes up for the attraction of these cryptocurrencies, contradicts the new regulatory requirements that prescribe traceability and transparency of all transactions.

The introduction of these measures on the part of the EU shows an increasing endeavor to the regulatory authorities to ensure security in the financial sector and at the same time combat illegal activities. Critics of the new regulations fear that the restrictions on privacy coins could have negative effects on innovative strength and development in the field of blockchain technology.

Overall, the regulation of cryptocurrencies is becoming increasingly stricter, and it remains to be seen how the market landscape will develop in the coming years. Users of Privacy Coins and other crypto systems are advisable to find out about the legal framework and the potential effects on their investments at an early stage.