Amendments were made to regulations exchange of information between counterparties, which involve the collection of data on users of non-custodial cryptocurrency wallets. Patrick Hansen, Development Manager at Unstoppable Finance, announced this.
BREAKING: The ECON & LIBE committees of the EU Parliament voted in favor of the FTR compromises D & E that crack down on “unhosted” wallets.
Entire draft regulation to be voted on later today, but will certainly go through.
Breakdown of the vote & more updates in this thread.
— Patrick Hansen (@paddy_hansen) March 31, 2022
“European Parliament committees ECON and LIBE voted in favor of compromise solutions […], which restrict “non-hosted” wallets. The full bill will be put to a vote at a later date, but will no doubt pass,” Hansen said.
The amendments will oblige cryptocurrency exchanges and other platforms to verify users of non-custodial wallets when conducting transactions with them. At the same time, the principle de minimis does not apply to such transfers, so we are talking about the collection of information in the framework of any transactions, regardless of their volume.
After voting on March 31, the proposal will be submitted to the plenary meeting in April. If no one disputes the project, the process will begin “trilogy” between the European Parliament, the European Commission and the EU Council.
6/ The trilogue usually takes a couple of months & offers the last chance to introduce changes.
Individual voices from the council & commission make me optimistic that we can still achieve changes.
But the situation is undoubtedly more difficult than with the POW-ban.
— Patrick Hansen (@paddy_hansen) March 31, 2022
“A trilogue usually lasts a couple of months and gives you a chance to make changes. [в документ]. Individual voices from the EU Council and the European Commission are encouraging that we can still make a difference. But the situation is undoubtedly more complicated than with the PoW mining ban,” he added.
