Every now and then, opportunistic people join forces to build hype around a compliance topic with the aim of creating confusion so that they can swoop in to “save” you. Today I’m going to explore why the current hype around unhosted/private wallets is a perfect example of this kind of unjustified hype.  

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Today's episode:

[01:02] Where the unjustified hype around unhosted wallets originated.

[03:04] An analogy that explains why people may choose to use unhosted wallets.

[05:32] Exploring how private wallets work. 

[06:49] Examples of unnecessary ideas that have been gathering momentum around unhosted/private wallets.

[07:36] Why obligations to collect information about senders and recipients do not apply to unhosted/private wallets. 

[09:22] Why I don’t think there is cause for concern around ownership of privately held wallets being made publicly available. 

[11:28] The convergence of crypto and fiat regulations.

[12:45] Why unhosted wallets aren’t the problem that some people are making them out to be. 

[13:26] My recommendation: don’t over-invest in solutions around private/unhosted wallet compliance. 

 

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