Trezor Backtracks on ‘Travel Rule’ App for Self-Hosted Crypto Wallets Amid Uproar

Posted on by American Coins & Gold

Trezor Backtracks on ‘Travel Rule’ App for Self-Hosted Crypto Wallets Amid Uproar
SatoshiLabs, the creator of the Trezor hardware wallet, has decided to shelve plans to adopt an automated protocol for proving ownership of a self-hosted wallet when withdrawing from an exchange in Switzerland (where it’s a regulatory requirement).The U-turn from Trezor followed a Twitter storm from customers and privacy buffs.Trezor announced Thursday it would integrate the Address Ownership Proof Protocol (AOPP), created by 21 Analytics, a Swiss fintech firm specializing in bringing crypto firms up to speed with anti-money laundering (AML) requirements set out by global financial crime watchdog, the Financial Action Task Force (FATF).“Adopting AOPP was a small step toward…