1/ Germany implements FATF travel rule for crypto and adopts new crypto transfer regulation.
Although there are small improvements compared to the initial draft, this is a perfect example of how regulation in the crypto space should not look like
2/ Since October 1, CASPs (crypto asset service providers, i.e. exchanges, custodians etc.) in Germany have to comply with the new regulation. That means they have to record & exchange information (name, address etc.) about the originator & beneficiary of every transaction.
3/ When transacting with unhosted/non-custodial wallets, they are also asked to collect that information, unless they can assure the traceability of the transaction in some other way.
1/ Why didn't market prices react to the terrible crypto provision in the infrastructure bill in the US?
IMO, because the main signalling was ultra bullish. Crypto has become a political force. And, frankly, we have a lot to learn from that in Europe. wsj.com/articles/bitco…
2/ How the crypto industry was able to organize itself and make its voice heard in DC was one of the most bullish long term signals ever. Many see political and regulatory headwind as one of the major long term risks: “What happens if politicians just outright ban crypto?”
3/ The industry’s capacity to delay this bipartisan, $1 trillion dollar bill – probably the largest legislative project during the Biden-administration – over a "mere" tax clause shows how implausible & unfeasible such a political threat has become. There are several reasons why