The EU is considering banning Europeans from using privacy coins and anonymous payments in the crypto sector. This was written by CoinDesk journalists who got access to draft drafts of the bill. If so, then Monero (XMR), Zcash (ZEC) and Dash (DASH) coins will fall under the ban.
So far, there are few details on this. It is known that the Czech deputy became the author of the bill. And that "in a number of EU countries there is clearly a high demand for such a law." But this is not an official release yet, but journalistic insiders.
Reference. What are anonymous coins?
Privacy coins have long been under the scrutiny of financial regulators. But how are they different from other tokens?
In short: they offer the possibility to transfer money anonymously online. Other networks, such as Bitcoin, are also anonymous, but not completely. Actions and transfers on such blockchains are tracked publicly. That is, we do not know who exactly owns this or that address. But we see how each address on the network behaves.
The new bill wants to change the KYC rules. Cryptocurrency exchanges and brokers will be forced to verify the identity of users in all transactions, even if their amount is less than 1000 euros.
These are much more stringent than those that apply to European banks. EU MPs are concerned that cryptocurrency transactions can be easily broken down into smaller pieces.
