Unhosted is unwelcome: EU’s attack on noncustodial wallets is part of a larger trend
2022.04.06 20:40
Unhosted is unwelcome: EU’s attack on noncustodial wallets is part of a larger trend
Last week, the European Parliament’s Committee on Economic and Monetary Affairs (ECON) and the Committee on Civil Liberties, Justice and Home Affairs (LIBE) voted in favor of a regulatory update that could compromise the exchange platforms’ ability to deal with noncustodial crypto wallets. Should the regulatory project make it to the legislation phase in the upcoming months, it would place severe disclosure requirements on transactions between noncustodial wallets and crypto exchanges in the European Union — a process whose signs are visible in other parts of the globe as well.
On Thursday, March 31, ECON and LIBE members voted on the Anti-Money Laundering (AML) regulatory package, which seeks to revise the current Transfer of Funds Regulation (TFR).
