Participants in the blockchain industry and regulatory agencies continue to debate privacy issues, as the European Union's comprehensive anti-money laundering (AML) rules will prohibit privacy-protecting tokens and anonymous crypto accounts starting in 2027.
According to a report by Cointelegraph in May, under the new anti-money laundering regulations (AMLR) that will take effect in 2027, credit institutions, financial institutions, and crypto asset service providers (CASPs) will be prohibited from maintaining anonymous accounts or processing privacy-protecting cryptocurrencies.
Anja Blaj, an independent legal advisor and policy expert for the European Crypto Initiative, stated that the right to access privacy-protecting currencies like Monero (XMR) has been a "continuing battle" between stakeholders in the blockchain industry and regulatory agencies.
"Once you think about how countries implement their policies, they want to establish control. They want to know who the parties involved in transactions are," Blaj said during the Cointelegraph Daily X live show on September 3.
Her comments come as the EU strengthens its regulatory oversight of the crypto industry, further developing the group's Markets in Crypto-Assets Regulation (MiCA).
While the anti-money laundering framework has been established, regulatory experts still believe there is a possibility for negotiation before its implementation in 2027.
Blaj stated that policymaking is a "continuous dialogue," meaning "even when regulations are in place, nothing is set in stone." "There are still ways to engage with regulators to see how things will evolve and how they will be enforced."
She added that while there is always room for negotiation with policymakers, regulations regarding privacy-protecting cryptocurrencies and accounts are becoming "more stringent because they do not align with national interests and planning."
In opposition to crypto privacy, another EU proposal known as "chat control" has regained momentum.
This plan would require platforms like WhatsApp and Telegram to scan every message, photo, and video sent by users, including those protected by end-to-end encryption.
Fifteen member states support the bill, but their support does not represent 65% of the EU population, which is the required threshold. Germany has been hesitant, but a policy shift could be decisive.
Related: The UK's Financial Conduct Authority (FCA) considers exempting crypto companies from some traditional financial rules.
Original article: “Opinion: Privacy is a ‘Constant Battle’ Between Blockchain Stakeholders and the State”
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