Self-Custody Wallet Checks refer to proposed or implemented regulatory requirements for verifying the identity of individuals interacting with self-custodial digital asset wallets. These checks aim to extend anti-money laundering and counter-terrorist financing measures beyond centralized exchanges to private wallet users. The goal is to enhance transparency and traceability of transactions, particularly for transfers exceeding certain thresholds. This concept represents a significant shift in digital asset regulation.
Context
The state of Self-Custody Wallet Checks is a highly debated topic within the digital asset community and among regulators. Discussions often concern the technical feasibility of implementing such checks without compromising privacy or the decentralized nature of certain assets. A critical future development involves navigating the complexities of balancing regulatory oversight with the fundamental principles of self-sovereignty and user control inherent in self-custody solutions.
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