Cryptocurrency Analysis and News Portal
Urtasun confirmed that the final deal would mean that, for transactions between regulated wallets, customer identity details have to be recorded for even the smallest transaction. That makes crypto rules unlike those for the conventional banking sector, which only catch those worth over 1,000 euros. Source
Read More
Summary: EU legislators are estimated to finalize regulations on proof-of-mining crypto activities and unhosted wallets by the end of June. Such regulation will have enormous implications for the crypto industry in Europe and globally. The crypto community is anxiously watching as EU legislators finalize regulations that will affect proof-of-mining activities and unhosted (non-custodial)
Read More
The government of the United Kingdom said it intends to modify a proposal that would have required crypto firms to collect personal data from individuals holding unhosted wallets that were the recipients of digital asset transfers.In its Amendments to the Money Laundering, Terrorist Financing and Transfer of Funds updated on
Read More
Had it been implemented as proposed, the rule would have required the sender of any transaction between unhosted wallets to collect know-your-customer data from the receiver. A similar proposal in the U.S. received backlash due to concerns about whether it would even be possible for some entities, like smart contracts
Read More
“The only way that we can stop illicit actors from operating … [is] in partnership with investors and with innovators,” Adeyemo said, vowing to ensure that “responsible actors in the space are the partners of government, rather than working in opposition to us, or feeling as if our rules don't
Read More
The European Parliament continued to keep crypto users and advocates at the edge of their seats last week as yet another piece of potentially harmful legislation — this time, a set of demanding data disclosure requirements for digital asset service providers — was rushed to a vote mere days after
Read More
The crypto industry has reacted strongly against a EU Parliament committee voting in favor of a regulatory package for tighter know-your-customer (KYC) and anti-money laundering (AML) rules for ”unhosted” private wallets. The new guidelines would require crypto service providers — most commonly exchanges — to verify the identity of every
Read More
Congressman Warren Davidson (R-OH), a member of the Blockchain Caucus, introduced the bill. Original Source
Read More
A controversial proposed rule that would enforce know-your-customer rules on unhosted or self-hosted crypto wallets may again be under consideration by the U.S. federal government.The rule was first proposed at the end of 2020 by the Financial Crimes Enforcement Network (FinCEN), the U.S. money laundering watchdog. If enacted, crypto exchanges
Read More