Patrick Hansen: EU Not Banning Self-Custody (Probably)! 🤯

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Patrick Hansen, Circle’s EU policy guru, has again stomped on the “AMLR 2027 will nuke self-custody” rumor mill like it’s a tiny, misguided gremlin.

This comes just after he warned that “Dual MiCA-PSD2 licensing could make compliance costs double… because nothing says ‘regulation’ like banning people from holding their own crypto!”

Nope, the EU Isn’t Killing Self-Custody-Unless They’re Bored on a Tuesday! 😂

In a fiery X post, Hansen called out crypto Twitter’s latest “OMG EU IS COMING FOR US” panic, declaring:

“Some big crypto accounts are claiming AMLR will ban self-custody or anonymous Bitcoin transactions in the EU. That’s wrong… probably. Or maybe they just need to read the fine print, which is written in tiny letters by a bureaucrat who hates joy.”

As the EU’s AMLR implementation looms in 2027, the drama intensifies-like a soap opera where the only twist is ‘regulatory compliance.’

What AMLR Actually Does (And Doesn’t)-Because Bureaucrats Can’t Read! 📜

Hansen clarified: AMLR targets CASPs (crypto-asset service providers) like exchanges and custodial wallets-not your grandma’s hardware wallet or your secret Bitcoin stash in a sock drawer. Key facts:

  • No self-custody ban! Peer-to-peer transactions are safe… unless the EU randomly flips a coin and it lands on ‘nix.’
  • Hardware/software wallets? Totally exempt. Ledger and MetaMask can breathe easy-probably.
  • KYC for CASPs: Exchanges will keep doing their thing, because nothing says ‘trust’ like a government form.
  • €10,000 cash limit: Because who needs privacy when you can carry a suitcase full of euros? 😅

In short, AMLR is just the EU’s way of saying, “We’re watching you… but we’re also watching our own budgets.”

“The impact on self-custody? Almost zero! Unless the EU reads this and decides to panic. Then it’s 100% zero.”

From FUD to Facts: Crypto Lobbyists Save the Day (Mostly) 🎉

The final AMLR text is a win for crypto advocates-after early drafts threatened to ban self-custody payments over €1,000 and drag DeFi into the AML abyss. Thanks to “education and advocacy,” the EU backed off… probably because they realized they’d look silly.

Hansen praised the industry’s efforts, saying, “We saved innovation! Well, we saved some innovation. The rest is still in a regulatory purgatory.”

For now, EU crypto users can keep using self-custody wallets like they’re going out of style. Exchanges? They’ll just follow more rules, because why not?

“Crypto Twitter misreads EU policy like it’s a grocery list. Stick to the facts, folks!”

What’s Next: Regulatory Overlap & Stablecoin Chaos 🚨

AMLR needs final EU Parliament approval by 2027. Meanwhile, Hansen warns that MiCA and PSD2 could “double compliance costs” for stablecoin issuers by 2026-a “regulatory own goal” if ever there was one.

With MiCA already shaking up the crypto scene, Hansen’s message is clear: Regulation isn’t always a death sentence… unless you’re a DeFi project in 2023.

So, to recap: The EU isn’t banning self-custody. They’re just thinking about it. Probably. 🤷♂️

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2025-11-10 15:53