The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
The Daily Hodl
No Result
View All Result

Coinbase CEO Brian Armstrong Says Europe’s New Crypto Law Eviscerates EU’s Privacy Standards

by Daily Hodl Staff
April 1, 2022
in Regulators

Coinbase CEO Brian Armstrong says the EU’s new law on unhosted cryptocurrency wallets is anti-innovation, anti-privacy and anti-law enforcement.

The EU Parliament’s Committee on Economic and Monetary Affairs and Committee on Civil Liberties, Justice and Home Affairs just voted in favor of a proposal requiring crypto exchanges to collect and submit the information of customers who use self-hosted digital wallets.

Armstrong tells his 1 million Twitter followers that exchanges are pushing back on the measure because it will usher in a surveillance regime for crypto.

“The latest draft by Parliament of the Transfer of Funds Regulation treats crypto, and every person who holds crypto, differently from fiat. 

Every crypto transaction (and not just those with a 1,000 euro threshold, as is the case with fiat) would be ‘travel rule eligible.'”

He cites how the policy will impact crypto users and exchanges like Coinbase.

“Before you can send or receive crypto from a self-hosted wallet, Coinbase will be required to collect, store, and verify information on the other party, which is not our customer, before the transfer is allowed.

Moreover, any time you receive 1,000 euros or more in crypto from a self-hosted wallet, Coinbase will be required to report you to the authorities. This applies even if there is no indication of suspicious activity.”

Armstrong says that the new law contradicts the privacy standards espoused by the EU.

“This eviscerates all of the EU’s work to be a global leader in privacy law and policy. It also disproportionately punishes crypto holders and erodes their individual rights in deeply concerning ways. It’s bad policy.”

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

?Featured Image: Shutterstock/N ON NE ON/NeoLeo

Submit a Press Release

Industry Announcements

  • Sui Surpasses $150 Million in TVL, Showcasing Blistering DeFi Momentum
    November 30, 2023
  • Duelbits Announces Landmark Collaboration With Football Icon Luis Suárez
    November 29, 2023
  • BinaryX Launches AI Chat Game ‘AI Hero’ With Limited NFT Mints
    November 28, 2023
  • Binance Labs and BNB Chain Open New Founder-Focused Track To Incubate 100 Early-Stage Projects
    November 24, 2023
  • Socrates Launches Groundbreaking Social Media and Entertainment Platform for Web 3.0 Users Globally
    November 23, 2023
  • GCEX Receives Operational VASP License From Dubai’s Virtual Assets Regulatory Authority
    November 22, 2023
  • Yubo Ruan – Revolutionizing Web 3.0 With a Web 3.0 Super-App
    November 22, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$38,606.34
$38,606.34
2.01%
Ethereum
$2,091.41
$2,091.41
2.51%
Cardano
$0.381705
$0.381705
1.45%
XRP
$0.610623
$0.610623
0.87%
Dogecoin
$0.083855
$0.083855
2.64%

Spotlight

  • Bitcoin (BTC) Could Explode by Over 400% As ‘Major Risk-On Move’ Looms, According to Glassnode Co-Founders
    November 24, 2023
  • Trader Says Ethereum-Based Altcoin Looking Massively Bullish, Updates Outlook on Polygon, Chainlink and XRP
    November 24, 2023
  • Someone Just Paid $3,140,000 in Bitcoin Fees for a Single BTC Transaction: On-Chain Data
    November 24, 2023
  • Crypto Analyst Says Ethereum Competitor Solana Primed To Surge by at Least 70% – Here’s the Timeline
    November 24, 2023
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Covering the future of finance, including macro, bitcoin, ethereum, crypto, and web 3.

Categories

Bitcoin • Ethereum • Trading •
Altcoins • Futuremash • Financeflux •
Blockchain • Regulators • Scams •
HodlX • Press Releases

 

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON X

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise

© 2023 The Daily Hodl