095 - Hype Around Unhosted Wallets

<p><span style="font-weight: 400;">Every now and then, opportunistic people join forces to build hype around a compliance topic with the aim of creating confusion so that they can swoop in to “save” you. Today I’m going to explore why the current hype around unhosted/private wallets is a perfect example of this kind of unjustified hype.  </span></p> <p><span style="font-weight: 400;">If you found value in this episode, I would really appreciate if you could leave a review! My mission is to help and support as many FinTech startups as possible, and when you leave a positive review, more people can find this podcast and help their companies!</span> <span style= "font-weight: 400;">If you are on Apple, just </span><a href= "https://podcasts.apple.com/ch/podcast/compliance-that-makes-sense/id1535160531"><strong>click here to review</strong></a><span style="font-weight: 400;">, select “Ratings and Reviews” and “Write a Review” and tell me what your favorite part of the podcast is. </span></p> <p> </p> <p><strong>Today's episode:</strong></p> <p><span style="font-weight: 400;">[01:02] Where the unjustified hype around unhosted wallets originated.</span></p> <p><span style="font-weight: 400;">[03:04] An analogy that explains why people may choose to use unhosted wallets.</span></p> <p><span style="font-weight: 400;">[05:32] Exploring how private wallets work. </span></p> <p><span style="font-weight: 400;">[06:49] Examples of unnecessary ideas that have been gathering momentum around unhosted/private wallets.</span></p> <p><span style="font-weight: 400;">[07:36] Why obligations to collect information about senders and recipients do not apply to unhosted/private wallets. </span></p> <p><span style="font-weight: 400;">[09:22] Why I don’t think there is cause for concern around ownership of privately held wallets being made publicly available. </span></p> <p><span style="font-weight: 400;">[11:28] The convergence of crypto and fiat regulations.</span></p> <p><span style="font-weight: 400;">[12:45] Why unhosted wallets aren’