“Privacy coins like Monero build privacy into their protocols, hiding the identities of the sender, the receiver and even the money being sent.”

Regulators flag high risks of crypto for money laundering due to anonymity and cross-border use.

https://www.coindesk.com/policy/2024/06/11/crypto-mixers-privacy-coins-layer-2s-complicate-tracing-for-law-enforcement-eu-innovation-hub-says/