EU Parliament can outlaw transacting with ‘unhosted’ wallets, crypto advocate warns By Cointelegraph

Less than a week after a potential ban on proof-of-work (PoW) digital assets was dropped from the EU’s prospective MiCA framework, a new threat to the crypto industry could be emerging in the European Union. This time, it is non-custodial, or unhosted, wallets that are in regulators’ crosshairs.

On Thursday, March 31, the European Parliament Committee on Economic and Monetary Affairs will vote on an Anti-Money Laundering (AML) regulatory package that seeks to revise the current Transfer of Funds Regulation (TFR) in a way that extends the requirement of financial institutions to attach information on the transacting parties to crypto assets. The rapporteurs of the regulation are Ernest Urtasun from the Greens and Assita Kano from the Conservatives and Reformists group.