Last week, the European Parliament’s Committee on Economic and Monetary Affairs (ECON) and the Committee on Civil Liberties, Justice and Home Affairs (LIBE) Voted in favor of a regulatory update that could compromise the exchange platforms’ ability to deal with Non-custodial cryptocurrency wallets. Should the regulatory project make it to the legislation phase in the upcoming months, it would place severe disclosure requirements on transactions between noncustodial wallets and crypto exchanges in the European Union — a process whose signs are visible in other parts of the globe as well.

ECON members and LIBE members voted Thursday, March 31 on the Anti-Money Laundering regulatory package (AML), which seeks to ReviseThe current Transfer of Funds Regulations (TFR)