Stop reasoning this away.
My BTCPay Server instance might be used by my family, in addition to me. Am I a "custodial wallet provider" now?
It's ridiculous. All of it.
#selfcustody Bitcoin wallets are NOT banned in EU countries.
https://nostrcheck.me/media/cfa82062cc24681fcf8173a76f24223027418bde8dab0f3a06f988af26005ead/749306817c36b8f7f2109b40058d29eeb74a55184a7218a0447187682e680319.webp https://nostrcheck.me/media/cfa82062cc24681fcf8173a76f24223027418bde8dab0f3a06f988af26005ead/12aff463f486668232cc672499f876e3e181727a4800c0e6c46138797e37625e.webp
Discussion
Gigi I agree with you, it’s dystopian and ridiculous. A whole new level of clown decree and we should expect those clowns to only double down in their fight against kyc free use of #bitcoin.
My point was to put the factual information out there, not to down play this overreach.
the only way to get over this…completely stay self custody..!
Exemptions: It is important to note that transactions from self-custody to self-custody wallets remain outside the scope of the new regulations, indicating a nuanced approach to regulation
The way to get over this is to make self-sovereign use ubiquitous, in addition to disobeying such ridiculous laws in a civil way.
Cool, so they banned hosted wallets (essentially). Self custody is THE TRUE BITCION WAY. I suspect they wrote it this way to allow the wealthy elites to stack with impunity and to scare off the plebs from even buying Bitcoin.
Bitcoin might be trustless but communities aren’t
Civilisation is built upon trust… trust in yourself, your family and your community… your reputation is everything 💪🧡
However, the accuracy of the language and the specificity of the words used are important.
I still can’t wrap my head around what this will change in practice and how it will be enforced.
It'll be like with labor laws, that they drag it out when they're going after someone in particular.
They won’t know.
We should also not give into the phrasing of "hosted" vs. "unhosted" wallets.
There are seed phrases.
There are signing devices.
Some are connected to the internet.
Some are not connected to the internet.