TheDesignFlaw on Nostr: My understanding of the legislation is that it only effects transactions to and from ...

My understanding of the legislation is that it only effects transactions to and from "hosted" wallets, ie. exchanges. So what it is essentially trying to do is put KYC on off/on ramps to the Euro. I don't see anything in the legislation that shows enforcement against transactions between two non-custodial wallets.

I'm not trying to minimize what's happening in the EU... it's an authoritarian disaster and it will only get worse. Just trying to be accurate. Please correct me if I'm analyzing this wrong. Here is the actual legislation if you want to go through it:

https://www.europarl.europa.eu/meetdocs/2014_2019/plmrep/COMMITTEES/CJ12/AG/2024/03-19/1297044EN.pdf