Are you worried about your wallet being monitored? The UK has announced it will scale back a proposal to gather data on unhosted crypto wallets.
, unless the transaction poses “an elevated risk of illicit finance.” The U.K. government added that unhosted wallets could be used for a variety of legitimate purposes, including asan additional layer of protection as is sometimes the case for cold wallets.
“There is not good evidence that unhosted wallets present a disproportionate risk of being used in illicit finance,” said the HM Treasury report. “Nevertheless, the government is conscious that completely exempting unhosted wallets from the Travel Rule could create an incentive for criminals to use them to evade controls.”
The U.K. government made the change in response to a consultation between July and October 2021 from “[Anti-Money Laundering] /[Counter-Terrorism Financing] supervisors, industry, civil society, academia and several government departments,” in which many expressed concerns about the “breadth of personal information collected” around transfers to unhosted wallets as well as the time required to enact such policy.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
UK Government Backtracks on Unhosted Wallet Data Collection ProposalThe U.K. government backtracked on a proposed data collection rule for financial transfers, saying it didn't make sense to require all senders of funds to private crypto wallets to collect recipients' identification details. By nikhileshde
Weiterlesen »
Russia seems to be preparing to mine Bitcoin with flare gasRussia has big plans for crypto mining. State-owned gas company Gazprom Neft will provide flare gas to BitRiver, the largest crypto-mining service supplier in Russia.
Weiterlesen »
What is an Iceberg order and how to use it?An iceberg order is a trading term that means dividing big trade orders into different smaller chunks. You may wonder how to place it, and this articles answers your questions.
Weiterlesen »
Hong Kong’s Hoo.com Expects to Re-Open Some Token Withdrawals Today; Finblox Takes Steps to Address LiquidityCrypto exchange Hoo_exchange has joined fellow Hong Kong-based crypto platforms finblox and BabelFinance in restricting user withdrawals due to market volatility and liquidity constraints. mikeybellusci reports
Weiterlesen »
TikTok ditching its servers for Oracle after new allegations of data exposed to ChinaTikTok said it has made changes to its storage of Americans' data following new allegations that the platform's China-based parent company accessed U.S. users' data.
Weiterlesen »
CoinDesk: Bitcoin, Ethereum, Crypto News and Price DataPoliticians are not going to tell you how much bitcoin or ether they own, decryptmedia reporter dragonwolftech says at Consensus2022. 'They have to be just as accountable as everybody else.' Watch more, presented by cryptocom:
Weiterlesen »