Mnuchin’s DISASTROUS Crypto Regulation |
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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 If you would like to send me a message and support my channel, visit https://cointr.ee/naomibrockwell Sign up for the free cryptobeat newsletter here: https://Naomibrockwell.com/cryptobeat Sign up for the members-only newsletter here and get access to exclusive content by becoming a member of NBTV! https://Naomibrockwell.com/memberships 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.to/2SVh0J2 Computer privacy screen (use your computer in public? Keep your information safe!) https://amzn.to/2SXYHmf Phone privacy screen (don't let people in public see your private data) https://amzn.to/2YyJMnH Camera cover (for computers and phones, so no one can access your camera without you knowing) https://amzn.to/2Mt7Hic Privacy Tip: Don't use wifi, and if you must, append the tag ‘_nomap’ or ‘_optout’ to your SSID to stop other websites tracking your location. |