The European Union has approved revised anti-money laundering rules under Regulation (EU) 2024/1624 that are due to apply from July 10, 2027, combining a €10,000 ceiling on business cash payments with tighter compliance requirements for crypto-asset service providers. Cash transactions of €3,000 or more will require identity checks and due diligence, while supervised crypto providers must apply stricter know-your-customer checks to transactions above €1,000. The framework also bans anonymous accounts and prohibits regulated crypto firms from supporting privacy coins, while direct transfers between private, self-custodied wallets remain outside mandatory identification requirements.