PANews reported on May 2 that according to Cointelegraph, the European Parliament and the Council have reached a preliminary agreement on the Anti-Money Laundering Regulation (AMLR), which is scheduled to be fully implemented in 2027. The regulation will prohibit crypto asset service providers (CASPs) from supporting cryptocurrencies with anonymous features, such as Monero and Zcash, and restrict the use of anonymization tools such as crypto mixers. Although self-hosted wallets are not directly banned, their anonymous transaction functions will be strictly restricted.
Under AMLR, CASPs must perform customer due diligence on all transactions, including transfers from self-hosted wallets. In addition, the regulations prohibit the provision of anonymous accounts and require an assessment of high-risk privacy wallets and mixing services. The relevant report is expected to be completed three years after the regulations come into effect, that is, by 2030.
