Denmark Considers Banning Non-Custodial Bitcoin Wallets
Unconfirmed reports suggest that the Danish Financial Supervisory Authority (Finanstilsynet) is planning to ban non-custodial Bitcoin (BTC) wallets, which allow users to store their own cryptocurrency.
The decision aligns with the European Union’s Crypto-Asset Markets (MiCA) regulations, designed to create a unified regulatory framework for crypto assets across the EU.
Danish authorities emphasize the importance of regulating “interface providers” and app developers to ensure compliance.
This isn’t the first regulatory move by the Danish Financial Supervisory Authority. Last July, the authority ordered a bank to liquidate its cryptocurrency holdings, reinforcing its stance on strict crypto industry regulation.
READ MORE: Early Bitcoin Miner Transfers 50 BTC After 14-Year Dormancy
Stablecoin regulations under MiCA will take effect on June 30. These rules will limit stablecoins to no more than 1 million transactions per day for goods or services.
Additionally, stablecoin operators will need authorization to function within the 27-country EU trading bloc and will face stringent transaction limits as outlined in MiCA.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
