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🚨 The threat of over regulation in Europe 🚨
Although a few weeks ago we were still applauding the European Union after their decision not to ban Proof of Work, today we raise our concerns for a revision of the Transfer of Funds Regulation.
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Although a few weeks ago we were still applauding the European Union after their decision not to ban Proof of Work, today we raise our concerns for a revision of the Transfer of Funds Regulation.
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The proposed changes would basically mean the end of unhosted wallets, meaning wallets owned and operated by consumers themselves, for example those offered by the popular MetaMask, Ledger and many others.
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Should these changes be accepted, this will stifle innovation in fintech and crypto companies. It is a desperate attempt by the European Parliament to reduce illicit financial activity - which based on research, still happens mostly in cash.
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