Will transferring crypto from your personal wallet to an exchange mean getting “a few more questions” in the future? 🧐
🇬🇧 On 10/23, the UK’s FCA published consultation paper CP26/38, proposing revisions to its financial crime guidance. The consultation runs until 12/24 (reported by CryptoSlate on 10/26).
✅ Listed as “good practice”: enhanced due diligence on transfers involving unhosted wallets
❌ Listed as “poor practice”: using third-party on-chain risk scores without being able to explain the rationale
❌ Also criticized: applying rigid “trace only a few hops” rules without considering the risks
📌 This is non-binding guidance. The FCA says it introduces no new rules and is not expected to significantly increase compliance costs. The UK Travel Rule has been in effect since 2023/9/1.
My take: The second point is the one worth paying attention to. Calling out “black-box scoring” means exchanges can’t just freeze users’ funds based on a score; they’ll have to explain why. That’s actually good news for ordinary users, though depositing from self-custody wallets will probably become more cumbersome.
Have you ever been asked to prove that an address belongs to you when depositing from your own wallet? Do you support these checks? 👇
#监管 #自托管 #Web3安全
🇬🇧 On 10/23, the UK’s FCA published consultation paper CP26/38, proposing revisions to its financial crime guidance. The consultation runs until 12/24 (reported by CryptoSlate on 10/26).
✅ Listed as “good practice”: enhanced due diligence on transfers involving unhosted wallets
❌ Listed as “poor practice”: using third-party on-chain risk scores without being able to explain the rationale
❌ Also criticized: applying rigid “trace only a few hops” rules without considering the risks
📌 This is non-binding guidance. The FCA says it introduces no new rules and is not expected to significantly increase compliance costs. The UK Travel Rule has been in effect since 2023/9/1.
My take: The second point is the one worth paying attention to. Calling out “black-box scoring” means exchanges can’t just freeze users’ funds based on a score; they’ll have to explain why. That’s actually good news for ordinary users, though depositing from self-custody wallets will probably become more cumbersome.
Have you ever been asked to prove that an address belongs to you when depositing from your own wallet? Do you support these checks? 👇
#监管 #自托管 #Web3安全
