The European Parliament supported the mandatory verification of users of DeFi wallets – The Times Hub

The European Parliament supported the mandatory verification of users of DeFi wallets – The Times Hub

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European Parliament supports mandatory user verification DeFi wallets

The European Parliament supported amendments to the regulation on the 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 regulation draft to be voted on later today, but will certainly go through.

Breakdown of the vote & more updates in this thread.

— Patrick Hansen (@paddi_hansen) March 31, 2022

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 (@paddi_hansen) March 31, 2022

“A trilogue usually lasts a couple of months and gives a chance to make changes [to the document]. 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 ban on PoW mining,” he wrote.

Recall that in March, ECON adopted a bill on the regulation of cryptocurrencies by a majority of votes. The final version did not include an amendment to prohibit mining on the Proof-of-Work consensus algorithm.

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