π¨ The threat of over regulation in Europe π¨
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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We urge everyone to read this Twitter thread
linkedin.com/feed/update/urβ¦
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https://twitter.com/paddi_hansen/status/1507741879563132928?s=20&t=nN2MIu3mkY5pUimG6EE9uQon why this is worrisome and should raise red flags and this LinkedIn article on the invasiveness of these changes to our privacy.
linkedin.com/feed/update/urβ¦
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The European Parliament will vote on the proposal on Thursday March 31, 2022. So the time to act is now. Coinbase, one of the worldβs largest crypto exchanges, has started a petition that helps you inform your local MEP about the adverse effects of this proposal.
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Fill out the form and speak up, to prevent poor decision making based on bad facts, and keep innovation in the crypto ecosystem going. p2a.co/o3GBJsd
#TFR #dontkillcrypto #EUvoting
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#TFR #dontkillcrypto #EUvoting
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