Treasury Secretary Mnuchin plans to rush out new regulation regarding self-hosted crypto wallets before the end of his term.
Apparently the proposed regulation would “require financial institutions like Coinbase to verify the recipient/owner of the self-hosted wallet, collecting identifying information on that party, before a withdrawal could be sent to that self-hosted wallet” according to Coinbase CEO Brian Armstrong
So what would this ruling mean? Don’t want to have to KYC a store before buying groceries? Want to participate in DeFi? Then move your money out of financial institutions and into non-custodial wallets. Remember: not your keys, not your coins.
Happy thanksgiving everyone!
Reporting by C. Edward Kelso and Naomi Brockwell
To find more of Kelso's work, visit: @coinfugazi; https://coinfugazi.com
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Here are a bunch of products I like and use. Using these links helps support the channel and future videos!
Recommended Books:
Permanent Record - Edward Snowden
https://amzn.to/305negc
No Place to Hide: Edward Snowden, the NSA, and the U.S. Surveillance State
https://amzn.to/2UQmJ4m
What has the government done to our money - Rothbard
https://amzn.to/2KMzmcu
Naomi's Privacy Bag: some of my favorite products to help protect your privacy!
Use the Brave browser! https://brave.com/nao076
USB-C to ethernet adapter:
https://amzn.to/2lOVBoy
Lightening to ethernet adapter:
https://amzn.to/2nWyNns
Faraday bag wallet (signal stopping, to protect your fob, credit card, and phone)
https://amzn.to/2SUkPhu
Data Blocker (if you're charging your phone in an unknown port, use this so that no data is transferred)
https://amzn.t..
