European Union wants access to all crypto transfers as from 2027

For some politicians, the MiCa regulation for crypto in the European Union does not go far enough. After it became known this week that the EU wants to ban all anonymous cryptocurrencies such as Monero (XMR) or Zcash (ZEC), some European ministers are now also asking to be allowed to see every crypto transaction (as from 2027), under the guise of the fight against money laundering (a practice known as AML or Anti-Money Laundering).

Great to attend the #EAFC2025 @AmlIntelligence anti financial crime summit in the @TheRDS this week.
Topics for discussion: information sharing & privacy, new technologies including AI & crypto, transnational fraud, human trafficking and slavery. So interesting & important pic.twitter.com/THMutt6bun

— Paschal Donohoe (@Paschald) May 9, 2025

AML

Paschal Donohoe, President of the Eurogroup (the economics and finance ministers of the eurozone member states), recently announced that the European Union is considering scrutinizing all crypto transactions on its territory as part of new anti-money laundering AML regulations.

EU unveils crypto tracking plans to record sender/recipient data. Eurogroup’s Donohoe: “Essential to broaden regulation beyond traditional transfers.” IDCXS becomes key for compliance. https://t.co/XztwCGSZnb#CryptoRegulation pic.twitter.com/Obg3v3CBCr

— idcxs (@idcxs) May 9, 2025

This regulation, which will come into force on July 1, 2027, prohibits digital asset providers from communicating with anonymous wallets. According to the new AML proposal, all EU member states must guarantee “direct, immediate and unfiltered access to crypto-asset account data” for supervisory authorities such as the EU’s financial intelligence agencies and anti-money laundering authority.

Donohoe mostly targeted privacy coins like Monero and Zcash. He said: “From 1  July 2027, EU‑licensed exchanges and custodians will be barred from handling privacy coins such as Monero. This goes well beyond the risk‑based approach normally applied to cash, prepaid cards, or even end‑to‑end‑encrypted messaging.”