Since its inception, the blockchain industry stood out among other technologies because of the power it gives to the users while ensuring a consistent flow of data.
The emergence of self-hosted wallets, also known as self-custody wallets, allows individuals to have complete control over their crypto assets.
In other words, people can store and use digital assets on their own without the need for a third party.
It also means that self-custody wallets are free of regulation, ensuring that the individuals enjoy the true nature of blockchain.
The CEO of Coinbase, Brian Armstrong, brought to light rumors that the United States Treasuring and Secretary Steven Mnuchin are making a rushing to effect a law that will directly affect self-hosted digital assets wallets before the end of his term.
Self-custodial cryptocurrency wallets remain the backbone of blockchain and protect the original purpose of cryptoassets like Bitcoin.
They allow everybody to utilize decentralized technology to access essential financial services.
Regulators are spooked and concerned that individuals might engage in unlawful activities such as money laundering and financial support to terrorist groups.
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