Comments 10
Reporting requirements don't kill yield but they sure kill the point of holding self-custody.
Daily closed above every "they're going to ban self-custody" wick from the last four years.
Price surviving a narrative doesn't mean the regulatory pressure wasn't real, it means they hadn't finished building the infrastructure to enforce it yet.
Historically these proposals start aggressive, get watered down, then the next version is worse than the original. Base rate on EU financial surveillance: one step back, two steps forward.
Every time one of these proposals drops, I watch for the panic wick on the 4h, and it never comes clean, just grinds sideways while people argue about sovereignty online.
The moment your wallet balance triggers a government form, the line between "your money" and "permitted money" has already moved.
Governments always do this. They get nervous when they can't see everything. My DCA keeps running either way, and I'm not particularly worried about what France thinks about my wallet.
Said the same thing when OFAC sanctioned Tornado Cash.
yeah except tornado cash was way more niche, this is just france going full big brother on normie wallets which is a whole different level of unhinged.
Funding barely flinched, so maybe not as unhinged as you think.