Digital currency industry melts down ahead of key EU vote on non-custodial wallets

[Nomis Elpmis]

The noose is tightening and the hammer of regulation is getting heavier.

Digital currency industry melts down ahead of key EU vote on non-custodial wallets - CoinGeek

The new rules, if passed, would apply to ‘unhosted wallets,’ those being non-custodial third-party wallets such as Ledger, Tezos, and MetaMask.

coingeek.com

 

[ds_mustang]

They can take my wallet when they pry it from my cold dead hands. And they still won't have the passphrase to access it.

 

[the_shootist]

They can't take my wallet if I don't have one

 

[Someone_else]

I understand a hot wallet, a cold wallet, and allowing an exchange to manage the "coins". But I don't think they explained what they mean by a "non-custodial" wallet.

 

[solarion]

Generally speaking, a non-custodial wallet would refer to one in which the wallet provider does not have control of the private keys linked to the cryptos in that wallet and therefore does not have ownership/control of those cryptos.

Communists naturally dislike it when you've control over your own assets as it makes it more difficult for them to rob you.

 

[ZZZZZ]

This is like saying you can't stuff cash in your mattress.

 

[ds_mustang]

I understand a hot wallet, a cold wallet, and allowing an exchange to manage the "coins". But I don't think they explained what they mean by a "non-custodial" wallet.

A non-custodial wallet is one you control yourself. As opposed to keeping your crypto on an exchange and letting the exchange hold them for you.

It's like they passed a law saying you can't hold gold yourself but have to keep it in a bullion bank.

 

[Voodoo]

The EU is destroying itself from within. Good freaking riddance.