Mnuchin’s DISASTROUS Crypto Regulation

https://open.lbry.com/@NaomiBrockwell:4/Mnuchins-DISASTROUS-Crypto-Regulation:6?r=FDreZsjE2C4VBDAr8tVX1a56tJRe5Hpq

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