European Parliament Supports Mandatory Verification of Users of DeFi Wallets

The European Parliament has 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, has announced.

“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.”

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.