Starting next year, every bitcoin transaction in the EU that relies on custodial solutions will be subject to KYC, recorded, and monitored by states, financial institutions, and so-called crypto-asset service providers—regardless of its value.

This is the result of Regulations 2023/1113 (AML) and 2023/1114 (MiCA).

The only way out of this state-controlled surveillance system is through private transactions using self-custodial solutions, which remain exempt from the new regulations.

It’s now more obvious than ever that developing user-friendly self-custodial solutions for the masses is the best path to ensuring private transactions.

#MICA #AML