The EU privacy coin ban of 2027, explained
From 10 July 2027, Article 79(1) of the EU Anti-Money Laundering Regulation (EU) 2024/1624 bars banks, financial institutions and crypto-asset service providers from keeping accounts that allow anonymisation, including through anonymity-enhancing coins such as Monero. It does not ban individuals from owning XMR or using self-custody wallets.
What happens on 10 July 2027
The EU's new Anti-Money Laundering Regulation, Regulation (EU) 2024/1624 (often called AMLR), starts to apply on 10 July 2027. Its Article 79(1) says credit institutions, financial institutions and crypto-asset service providers (CASPs) are prohibited from keeping anonymous accounts, "including through anonymity-enhancing coins". In practice it is read as an end to EU-licensed exchanges, brokers and custodial wallets offering coins like Monero.
It is a regulation, not a directive, so it applies directly in every EU member state without national laws needed to bring it in. It does not name Monero or any other coin.
The dates, checked against the legal text
| Date | Event | Legal basis |
|---|---|---|
| 31 May 2024 | AMLR adopted | Regulation (EU) 2024/1624 |
| 19 June 2024 | Published in the Official Journal | OJ L, 2024/1624 |
| 9 July 2024 | Entered into force (20 days after publication), but not yet applicable | AMLR Art. 90(1) |
| 30 December 2024 | MiCA rules for crypto service providers apply; trading platforms may not admit coins with inbuilt anonymisation | MiCA (EU) 2023/1114, Art. 76(3) |
| 1 July 2026 | End of MiCA's transitional period for providers already operating under national rules | MiCA Art. 143(3) |
| 10 July 2027 | AMLR applies, including the Article 79 ban | AMLR Art. 90(2) |
| 10 July 2029 | AMLR applies to football agents and professional football clubs (not relevant to crypto users) | AMLR Art. 90(2) |
1 July or 10 July? Some articles give 1 July 2027. Article 90(2) of the regulation as published in the Official Journal says it "shall apply from 10 July 2027", and EUR-Lex lists the same date. The 1 July confusion may come from MiCA's transitional deadline of 1 July 2026. We use 10 July 2027.
Two laws, two different jobs
MiCA Article 76(3): no listing (since 30 December 2024)
MiCA, the Markets in Crypto-Assets Regulation, says the operating rules of a trading platform must prevent the admission to trading of crypto-assets with an inbuilt anonymisation function, unless the holders and their transaction history can be identified by the platform. Monero's design does not allow that, so authorised EU trading platforms do not list it.
AMLR Article 79(1): no accounts (from 10 July 2027)
AMLR goes further. It covers not only trading platforms but every CASP, plus banks and other financial institutions. They may not keep anonymous crypto-asset accounts or any account allowing "the anonymisation or increased obfuscation of transactions, including through anonymity-enhancing coins". That catches custody, brokerage and transfer services, not just listings.
Who is affected and who is not
| Who | Affected? |
|---|---|
| EU-licensed exchanges, brokers, custodial wallets | Yes. Must not offer anonymity-enhancing coins from 10 July 2027; most already stopped. |
| EU banks and payment firms | Yes, for accounts allowing anonymisation. |
| Individuals holding XMR in their own wallet | No. Article 79 applies to obliged entities, not private people. |
| Self-custody wallet software (Feather, Cake, GUI) | Not as such: non-custodial software does not hold customer accounts. Individual developers should get their own legal advice. |
| Private peer-to-peer trades between individuals | Not directly, but national rules on unlicensed business activity still apply. |
| Miners and node operators | No. |
What has already changed
The market moved well before the deadline. Kraken stopped XMR for clients in Ireland and Belgium on 10 May 2024 and for the whole European Economic Area on 31 October 2024; leftover XMR was converted to BTC by 6 January 2025. Binance had already restricted XMR in France, Italy, Spain and Poland in June 2023 and delisted it worldwide on 20 February 2024. A check of eight exchanges published by CryptoTicker on 5 October 2026 found that only Kraken and KuCoin list XMR and that neither offers it to German customers; Bitpanda, Bitvavo, Coinbase, Bitstamp, Gate and OKX list no XMR. See the delisting tracker for every dated event.
A related rule already applies. Under the EU Transfer of Funds Regulation (EU) 2023/1113, which applies from 30 December 2024, a CASP sending or receiving more than EUR 1,000 to or from a self-hosted wallet must check that the wallet belongs to its customer. Self-hosted wallets themselves are not banned.
If you hold XMR in the EU
- Do not leave XMR on a platform that is winding it down. Withdraw to a wallet you control before deadlines. Follow what to do if your exchange delists Monero.
- Use a wallet that keeps your keys on your device. See best Monero wallets and cold storage.
- Keep records. Tax rules are unchanged by AMLR. Save purchase records, and keep transaction keys if you may need to prove a payment. See Monero taxes.
- Know that selling gets harder. EU-licensed exchanges will not take XMR deposits. Legitimate options include swapping to another coin through a non-custodial wallet and selling that on a regulated exchange, but swap services carry their own risks and the exchange may ask where funds came from. See how to sell Monero.
- Be wary of "EU-compliant Monero" offers. Expect scammers to use the deadline to push fake migration services. Monero has no token swap and nobody needs your seed. See Monero scams.
We do not advise using platforms that serve EU residents without authorisation, and we give no tips on getting around identity checks.
Common misreadings
- "Monero will be illegal in the EU." Not for individuals. The ban targets regulated businesses.
- "Self-custody wallets are banned." No. The Transfer of Funds Regulation adds checks on transfers between CASPs and self-hosted wallets, but owning one is legal.
- "It starts on 1 July 2027." The legal text says 10 July 2027.
- "Monero is named in the law." It is not. The term used is "anonymity-enhancing coins", and supervisors will apply it.
For other countries, see is Monero legal? and the country pages.
Frequently asked questions
When does the EU privacy coin ban start?
On 10 July 2027, when the Anti-Money Laundering Regulation (EU) 2024/1624 starts to apply under its Article 90(2). Its Article 79(1) contains the ban on accounts using anonymity-enhancing coins.
Will owning Monero be illegal in the EU?
No. Article 79 applies to banks, financial institutions and crypto-asset service providers. Individuals can keep XMR in their own wallets.
Does the ban cover self-custody wallets?
Not directly. Non-custodial wallet software does not keep accounts for customers. Separately, CASPs must verify ownership of self-hosted wallets for transfers over EUR 1,000 under the Transfer of Funds Regulation, which applies from 30 December 2024.
Which coins count as anonymity-enhancing coins?
The regulation does not list them. Monero is the most obvious example because privacy is built into every transaction. Regulators and supervisors will decide how the term applies to coins with optional privacy.
Can I still sell Monero in the EU after July 2027?
EU-licensed exchanges will not accept it. Individuals may still trade privately or swap to another coin through non-custodial tools where national law allows, keeping full records for tax.