Privacy is ‘constant battle’ between blockchain stakeholders and state
Blockchain stakeholders may still negotiate with policymakers on the EU AML framework’s upcoming ban on privacy-preserving tokens, set to go into effect in 2027.
Blockchain industry participants and regulators continue wrangling over privacy rights as the European Union’s sweeping Anti-Money Laundering (AML) rules look set to ban privacy-preserving tokens and anonymous crypto accounts starting in 2027.
Credit institutions, financial institutions and crypto asset service providers (CASPs) will be prohibited from maintaining anonymous accounts or handling privacy-preserving cryptocurrencies under the EU’s new Anti-Money Laundering Regulation (AMLR) that will go into effect in 2027, Cointelegraph reported in May.
Maintaining the right to access privacy-preserving coins like Monero (XMR) has been a “constant battle” between blockchain industry stakeholders and regulators, according to Anja Blaj, an independent legal consultant and policy expert at the European Crypto Initiative.
