The European Union’s Anti-Money Laundering Regulation (AMLR), effective from July 1, 2027, introduces comprehensive measures to enhance financial transparency and combat illicit activities within the crypto ecosystem. Key provisions include the prohibition of anonymous crypto accounts and wallets, a ban on privacy coins such as Monero, Zcash, and Dash, and mandatory identity verification for crypto transactions exceeding €1,000. The establishment of the Anti-Money Laundering Authority (AMLA) will ensure consistent enforcement across the EU.
Q1: What is the primary objective of the EU's Anti-Money Laundering Regulation (AMLR)?
A1: To enhance financial transparency and combat illicit activities
Q2: Which of the following will be prohibited under the AMLR?
A2: Anonymous crypto accounts and wallets
Q3: Which regulatory body will oversee large crypto platforms under the AMLR?
A3: Anti-Money Laundering Authority (AMLA)
Q4: Which of the following privacy coins will be banned under the AMLR?
A4: Monero (XMR)
