Gracjan Pietras on Nostr: Starting next year, every bitcoin transaction in the EU that relies on custodial ...
Starting next year, every bitcoin transaction in the EU that relies on custodial solutions will be subject to KYC, recorded, and monitored by states, financial institutions, and so-called crypto-asset service providers—regardless of its value.
This is the result of Regulations 2023/1113 (AML) and 2023/1114 (MiCA).
The only way out of this state-controlled surveillance system is through private transactions using self-custodial solutions, which remain exempt from the new regulations.
It’s now more obvious than ever that developing user-friendly self-custodial solutions for the masses is the best path to ensuring private transactions.
#MICA #AML
This is the result of Regulations 2023/1113 (AML) and 2023/1114 (MiCA).
The only way out of this state-controlled surveillance system is through private transactions using self-custodial solutions, which remain exempt from the new regulations.
It’s now more obvious than ever that developing user-friendly self-custodial solutions for the masses is the best path to ensuring private transactions.
#MICA #AML