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27 July 2021

In throwback to Coinbase boss warning, the EU now looking to ban anonymous crypto wallets

In throwback to Coinbase boss warning, the EU now looking to ban anonymous crypto wallets


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Last year, Coinbase CEO Brian Armstrong raised concerns over rumors the U.S Treasury was moving to ban “anonymous non-custodial wallets.” This he deemed a step too far and would result in stifling the burgeoning crypto industry.

In a further attempt to shut down illicit crypto transactions, the proposal also mentions outlawing “anonymous crypto-asset wallets” altogether.

According to EU Financial Sevices commissioner Mairead McGuinness, money laundering is a threat to “citizens, democratic institutions, and the financial system.” She said the proposals are necessary to thwart dirty money being washed through the system.

Last November, Coinbase CEO Brian Armstrong posted a series of tweets on rumors the U.S Treasury was moving to ban “self-hosted crypto wallets.”.

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