Want a quick recap of today’s crypto highlights? Here’s a roundup of key developments impacting Bitcoin, blockchain, DeFi, NFTs, Web3, and crypto regulations.
Today, the European Union confirmed it will ban anonymous crypto accounts and privacy coins starting in 2027 under new Anti-Money Laundering (AML) rules. Meanwhile, the U.S. Treasury is moving to disconnect the Huione Group from the financial system over allegations of crypto-related crimes, and Coinbase announced it will delist the MOVE token.
EU to Ban Privacy Coins and Anonymous Crypto Accounts by 2027
Under sweeping AML measures, the EU will prohibit financial institutions and crypto service providers from offering anonymous accounts or handling privacy coins like Monero (XMR) and Zcash (ZEC) by 2027. Article 79 of the AML Regulation explicitly bans the maintenance of anonymous accounts and privacy-enhancing crypto-asset services, according to the European Crypto Initiative.
This rule forms part of a wider AML overhaul targeting bank accounts, payment systems, safe-deposit boxes, and crypto platforms that allow anonymized transactions.
U.S. Targets Huione Group for Crypto Crimes
The U.S. Treasury’s FinCEN proposed cutting Cambodia’s Huione Group off from the U.S. banking system, accusing the conglomerate of enabling North Korea’s Lazarus Group to launder crypto. Huione’s network includes payment platform Huione Pay, Huione Crypto exchange, and Haowang Guarantee, a marketplace linked to illicit goods and services.
Treasury Secretary Scott Bessent labeled Huione a “hub for malicious cyber actors,” noting its role in laundering at least $4 billion, including millions linked to crypto scams and North Korea. The group also operates a stablecoin, USDH, which officials say aids money laundering. The proposed ban is now open for a 30-day public comment period.
Coinbase to Halt MOVE Token Trading
Coinbase announced it will suspend trading of the MOVE token—native to the Movement Network’s layer-2 blockchain—on May 15. The decision follows the token’s failure to meet Coinbase’s listing standards, according to a May 1 statement. MOVE’s price dropped around 14.5% in 24 hours.
Coinbase detailed that trading will be disabled across all its platforms, and order books have already shifted to limit-only mode. The suspension comes amid an ongoing third-party investigation into a reported agreement between Movement Labs and a market maker, which has been linked to the MOVE token’s steep decline last December. Groom Lake, a cybersecurity and intelligence firm, is conducting the review.
