No, the EU is NOT going to ban private wallets!

So there has been a lot of wrong reporting on this topic.

The reason for that is that the EU fu*ked up the wording in their short report, and havn't even linked the newest document in it:

https://www.consilium.europa.eu/en/press/press-releases/2021/12/01/anti-money-laundering-council-agrees-its-negotiating-mandate-on-transparency-of-crypto-asset-transfers/

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The newest document from 29th November is this one:

https://data.consilium.europa.eu/doc/document/ST-14259-2021-INIT/en/pdf

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Just search for "unhosted" and read the 2 results:

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1. "(18a) Similarly, persons that are merely ancillary participants, which do not provide or actively facilitate the transfer of crypto-assets, such as persons that provide only Internet services, cloud services, a gateway to connect to a distributed ledger network (for example a so called “unhosted wallet”) or nodes that help validate the transactions, should not fall within the scope of this Regulation."
2. "(29) This Regulation applies not only to transfers of crypto-assets where both the crypto-asset service provider of the originator and beneficiary are involved but also to transfers of crypto-assets to or from a distributed ledger address not linked to a crypto-asset service provider, so called “unhosted wallets”, as long as there is at least one crypto-asset service provider involved in the transfer of crypto-assets."

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All credit for this find goes to this german Youtuber, who seems to be the only one who did real research: https://www.youtube.com/watch?v=r3Fk50wJG-Q

Would be great if someone could cross-post this in /r/Cryptocurrency

I'm sure there has been a lot of selling due to this FUD, so we gotta end this.