https://www.dlnews.com/articles/regulation/why-the-eu-is-about-to-outlaw-and-curb-key-crypto-features/
The EU is taking aim at privacy coins and self-custody wallets under new anti-money laundering regime.
The changes, including a ban on crypto mixers, are expected this week.
DeFi, DAOs, NFT platforms, among others, will need to increase their due diligence on users.

Comments by lawyer Ksenia Oshurko(C)
" Key changes:
🔹 Restriction of anonymous payments from non-custodial wallets (i.e. those where the owner has full control over private keys) - no more than €1,000 per transaction.
🔹 Enhanced monitoring of cryptocurrency transactions - exchanges and payment services will have to monitor transfers more strictly.
🔹 Ban on anonymous instruments: cryptomixers (services for anonymising transactions) and private coins like Monero (XMR) and Zcash (ZEC) are under attack.
🔹 Mandatory KYC (identity authentication) for DeFi platforms, DAOs and NFT marketplaces.

💭 What does this mean for the crypto market?
1️⃣ Cryptocurrency anonymity under threat - private transactions and confidential coins could be outlawed in the EU.
2️⃣ Pressure on DeFi - platforms may be obliged to collect user data, which contradicts the very idea of decentralisation.
3️⃣ Exchanges will have to tighten rules - increasing the burden on projects working with EU users."