NEWS FLASH: INDUSTRY REACTION TO THE "UNHOSTED WALLET" CRACKDOWN 🔥
The cryptocurrency community is reacting swiftly to these developments, with privacy advocates warning that excessive monitoring could stifle innovation within the self-sovereign identity and DeFi sectors. 📉
Market analysts suggest that such regulations might lead to increased compliance costs for decentralized exchanges (DEXs) and custodial platforms that facilitate transfers to external addresses. 💸
Despite these hurdles, proponents of the bill argue that a transparent and regulated environment is essential for the long-term institutional adoption of blockchain technology. 📊
#SelfCustody #CryptoRegulation #AML #BlockchainSecurity
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