https://data.consilium.europa.eu/doc/document/ST-6220-2024-REV-1/en/pdf

I tried to collect the bits that might impact Bitcoin. A minuscule fraction of the paper surface area. It's not like Bitcoin or even 'virtual assets' has its own chapter: in classic design-by-commission it just pops up in random articles.

Notably I'm ignoring cash: someone else will have to save that. But beware that 'cash' is defined much more broadly than the word suggests. It doesn't explicitly cover bitcoin, but I would expect that to happen eventually.

The first 100 pages (items numbered up to 103) seem more like an introduction than actual proposed law. Some of it seems to oversell the actual legal text.

One observation is that 'virtual asset service provider' (VASP, or what Americans would roughly call custodians and exchanges) is now considered a Financial Institution(tm).

My impression now is that only _custodians_ are not allowed to:

1. Have anonymous customers (i.e. anonymous accounts): they explicitly mandate KYC rugging existing accounts, albeit with a 3+ year heads up

2. Operating a mixer

They also need to verify ownership of destination address (wallet verification), which is bad, but far from a ban on self-custody.

The 'intro' text mentions mixers along with anonymous coins in a way that suggests banning transactions with them. But the word 'through' makes it really unclear what they mean. In the law text they define 'anonymity-enhancing coins' in a way that obviously implies Monero and Zcash in that order. Article 58 uses the vague term 'through' again. Does it mean they can't let you withdraw to it? Or just that they're not allowed to offer a pseudo-mixing service that *uses* these coins.

Anyway I'll have to re-read this a few times to grok. Keeping in mind that the politicians who wrote this don't have the brain cells to process anything more sophisticated than "monero bad, make law with fancy words!" and then the bureaucrats who write the law have no idea what anything means either. No tech literate person was involved in this process, that's very obvious from the language. But that does make it less dangerous.

The next step for me is more deeply understand what the proposal actually says, if there's any potential direct impact on myself (which might give me legal standing - now or in five years or so when stuff has really taken effect and local judges can intervene) or if it's merely bad in general (in which case perhaps all I can do is write an angry letter).

https://bitcoinmagazine.com/business/human-rights-foundation-grants-500000-to-14-bitcoin-projects-worldwide

Grant #1: USD E-Cash by Dr. Calle, leveraging the Cashu protocol for a secure USD-based Chaumian e-cash system that respects your privacy. Funding will support the full development of this project 🔒💸

Grant #2: BTC Pay Server provides free open source software for organizations that rely on Bitcoin, it is a critical tool for nonprofits operating in challenging environments. Funding will support enhancing the platform's user experience and extend its capabilities 🌐

Grant #3: BOB Space, for its Builders Residency Program in Thailand. Funding will help launch a new cohort, to be dedicated to identifying weak spots in Bitcoin’s decentralization, and making those into strengths 🌱 📡

Grant #4: YiBao, a non-profit that advocates for democracy and human rights within the Chinese-speaking world. Funding will enable translating key Bitcoin educational materials into Chinese and promoting financial freedom inside the world’s biggest Communist country 🇨🇳

Grant #5: The Bitcoin Innovation Hub, led by Noble Nyangoma in Uganda, offers a range of vocational training and financial literacy to women and men, centered around using and earning Bitcoin. Funding will support the addition of classes such as carpentry, baking, and valuable digital skills.

Grant #6: Bitcoin Dada, founded by Lorraine Marcel, is on a mission to empower African women with Bitcoin knowledge. Funds will support expansion across Africa, the creation of multilingual educational resources, and promote women-led businesses adopting Bitcoin 💪

The grants in this round to both Bitcoin Dada and The Bitcoin Innovation Hub are generously supported by Strike’s nonprofit initiative. Big shout out to Strike and everyone else that makes our work possible! ⚡

Grant #7: The Bitcoin Design Foundation contributes essential user research, aiding Bitcoin wallets and companies in enhancing UX to guarantee Bitcoin's accessibility for all 🎨📲

Grant #8: Bitcoin Optech is a vital resource for the Bitcoin developer community, offering insights into the most important Bitcoin technical conversations. Funds will be allocated towards operational expenses and growth strategies.

Grant #9: Damus, the first #NOSTR client on iOS, is expanding to Android! Funding enables this critical initiative which makes this open source client available to millions of new users in authoritarian countries and the developing world.

Grant #10: Bitcoin Core Developer Pablo Martin's contributions help maintain Bitcoin as a secure digital currency, pivotal for activists and individuals in high-risk environments. HRF is proud to support Pablo! 🛡👨‍💻

Grant #11: LNbits aims to decentralize custodianship and provides users with a robust suite of Bitcoin tools they can run for themselves. Funding will support the core contributors’ salaries, bounties, and educational outreach efforts through workshops and video tutorials ⚡

Grant #12: The Bitcoin Policy Summit 2024, organized by Bitcoin Policy Institute, is a critical platform for discussing how Bitcoin can play a role in protecting human rights. Funding will support event logistics, speaker travel, and attendance by human rights advocates 🏛️🗣️

Grant #13: Video series "Bitcoin for Billions" by #Bitcoin educator Paco de la India, is making Bitcoin accessible to millions in India, in a variety of local languages. Funding will be used for research, content creation, translation, and promotion 🎥🇮🇳

Grant #14: Scalar School in Brazil, established by Luciana, is nurturing a new wave of Bitcoin and Lightning developers across South America. The grant will go towards teachers’ salaries, training workshops, and university outreach 🌎🇧🇷

The Bitcoin Development Fund is committed to facilitating $2 million of grants in 2024, aiming to bolster innovative technical, educational, and community-driven Bitcoin initiatives worldwide

Submit your application at hrf.org/bdfapply