ferenckovacs on Nostr: The EU is back with more attacks on our freedom. š Their 2025 MiCA and Travel Rule ...
The EU is back with more attacks on our freedom. š Their 2025 MiCA and Travel Rule regulations are just another step to control and surveil our financial lives. These tools of control, disguised as ātransparency,ā aim to micromanage Crypto Asset Service Providers (CASPs), which include any exchange or platform facilitating crypto transactions. The Travel Rule forces exchanges to collect and share private data about Bitcoin users, compromising privacy and financial freedom.
Hereās what you need to know:
ā¢ Below ā¬1000: Youāll need to self-declare address ownership.
ā¢ Above ā¬1000: Proof of address ownership is mandatory, either by sending a small deposit back to the exchange or signing a message with your private key.
This compliance theater is not about protectionāitās surveillance. But while we live under these nonsensical rules, we can prepare and adapt with a smart approach.
1ļøā£ Create a dedicated Taproot wallet for KYC transactions. Taproot wallets (bc1p addresses) provide improved efficiency, lower costs, and robust security. Use wallets like @nunchuk_io or @sparrowwallet to generate these addresses.
2ļøā£ Use this wallet exclusively for withdrawals from KYC exchanges.
3ļøā£ Immediately transfer funds to a separate cold storage wallet to keep your sats safe.
This strategy minimizes risks, keeps your KYC Bitcoin organized, and maintains a clear separation from non-KYC funds.
Looking ahead, a firmware update for @COLDCARDwallet will soon enable Taproot wallets on hardware devices, allowing fully offline security for self-custody. Until then, wallets like Nunchuk and Sparrow are reliable hot wallet options for short-term transactions.
And remember: if you buy Bitcoin peer-to-peer, none of these rules apply. No one will ask you why youāre sending Bitcoin or to whom. This is the power Bitcoin gives us: financial freedom without permission. šŖ
As an entrepreneur, I embrace Bitcoin in my businesses. In fact, we operate the first hotels in Hungary that accept Bitcoin for payments:
ā¢ @HotelAuroraHU
ā¢ @HotelAtlantisHU
I always encourage other entrepreneurs to lead the way. Donāt wait for customers to demand Bitcoin acceptanceātake the first step and show them the value of freedom money. š #Bitcoin #Taproot #FreedomMoney
Hereās what you need to know:
ā¢ Below ā¬1000: Youāll need to self-declare address ownership.
ā¢ Above ā¬1000: Proof of address ownership is mandatory, either by sending a small deposit back to the exchange or signing a message with your private key.
This compliance theater is not about protectionāitās surveillance. But while we live under these nonsensical rules, we can prepare and adapt with a smart approach.
1ļøā£ Create a dedicated Taproot wallet for KYC transactions. Taproot wallets (bc1p addresses) provide improved efficiency, lower costs, and robust security. Use wallets like @nunchuk_io or @sparrowwallet to generate these addresses.
2ļøā£ Use this wallet exclusively for withdrawals from KYC exchanges.
3ļøā£ Immediately transfer funds to a separate cold storage wallet to keep your sats safe.
This strategy minimizes risks, keeps your KYC Bitcoin organized, and maintains a clear separation from non-KYC funds.
Looking ahead, a firmware update for @COLDCARDwallet will soon enable Taproot wallets on hardware devices, allowing fully offline security for self-custody. Until then, wallets like Nunchuk and Sparrow are reliable hot wallet options for short-term transactions.
And remember: if you buy Bitcoin peer-to-peer, none of these rules apply. No one will ask you why youāre sending Bitcoin or to whom. This is the power Bitcoin gives us: financial freedom without permission. šŖ
As an entrepreneur, I embrace Bitcoin in my businesses. In fact, we operate the first hotels in Hungary that accept Bitcoin for payments:
ā¢ @HotelAuroraHU
ā¢ @HotelAtlantisHU
I always encourage other entrepreneurs to lead the way. Donāt wait for customers to demand Bitcoin acceptanceātake the first step and show them the value of freedom money. š #Bitcoin #Taproot #FreedomMoney