Crypto industry fires back after EU vote to block ‘unhosted’ wallets By Cointelegraph

The crypto industry has reacted strongly in opposition to a EU Parliament committee voting in favor of a regulatory package deal for tighter know-your-customer (KYC) and anti-money laundering (AML) guidelines for ”unhosted” non-public wallets.

The brand new tips would require crypto service suppliers — mostly exchanges — to confirm the id of each particular person behind an unhosted pockets that interacts with them, whereas any transaction higher than 1,000 Euros ($1,100) would want to be reported to authorities.

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