The Bank Of England is considering restrictions on self hosted wallets in the UK. “These proposals risk expanding data collection, eroding privacy, increasing costs, adding friction, and limiting access through banks and intermediaries.” - @Susie Violet “This would be of such monumental, such overweening, stupidity, that it is hard to formulate a sensible response.” - @npub1wl39...znlx The UK cannot become a leading digital assets hub while thinking self custody is a bug to fix. You cannot stop people from controlling their own private keys. Good piece from Cointelegraph covering the growing backlash to these proposals. H/t to Aaron wood. Full article:

Cointelegraph

Stablecoin Industry Opposes Bank of England’s Unhosted Wallet Ban

Banning the use of custodial wallets for stablecoins could hinder major use cases like remittances, according to some industry observers.