First reported by CoinDesk, new documents point towards a regulation vote in the coming weeks that would attempt to restrict any size crypto transfers between "unhosted wallets", and block transfers to locations deemed unsuitable or likely to harbor "money laundering or crime." It is unclear how they would plan to implement such restrictions but they will most likely start through the use of coercion on centralized service providers. This push for more regulation comes after EU officials have discussed the use of crypto in funding terrorism and child pornography, thus urging for tighter regulation. This is as good a time as any to urge all users to take their bitcoin keys off of any exchanges/custodial services and into some type of self-custody solution - with your bitcoin keys in hand, restriction and censorship won't be feasible. Read our article on self custody and setting up a Bitcoin node for added privacy and security. We will follow as the story develops in Europe.
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