A Crypto Wallet by Any Other Name…

A Crypto Wallet by Any Other Name…
What’s the right term for a cryptocurrency wallet? This was barely a discussion a few years ago, when a “wallet” almost always described a piece of local software or hardware that held the cryptographic private keys that control assets on a blockchain (that, or old-fashioned folding leather).But that clarity has been eroded, largely thanks to rising regulatory pressure. Declarations from bodies like the Financial Crimes Enforcement Network (FinCEN), the U.S. Treasury Department and the Internal Revenue Service have introduced terms like “unhosted wallet” and “non-custodial wallet” to distinguish user-controlled tools from “custodial wallets” – exchange accounts or other third-party services…