I'm a foreigner living in the EU for many years, here's my 2 cents.<p>For over a year, I was locked out of financial services due to my inability to pass KYC. The reason was that I had already left one country, but was still in the process of getting a residency visa in another. During the process, I'm allowed to live in this country, but I have no ability to prove it to any financial institutions.<p>So, no wonder I'm bitter about KYC and AML.<p>Regarding privacy, I appreciate the EU's effort, but I also feel they focus too much on the legal side and not enough on the implementation side of it.<p>My ID was photocopied at almost every accommodation I visited in the last decade. I have no way to make private digital payments, and even offline cash is not being promoted.<p>At least once, my private financial record was accessed by a 3rd party that used it against me. But I'm not the kind of person who would go into a legal battle. I'm the kind of person who uses technology to protect his privacy. And the EU, with decisions like this, makes it very difficult for me.<p>I doubt banning Monero or Zcash would prevent criminals from tax evasion. They'll find other ways. So, as often happens, "Locks keep honest people honest".