Key Factors:
- The Danish Monetary Supervisory Authority (DFSA) clarified it has no plans for the Danish self-custodial pockets ban.
- DFSA’s regulatory focus is on custodial companies the place crypto belongings are managed on behalf of shoppers, in keeping with the MiCA regulation.
- Non-custodial wallets, which don’t contain custody of personal keys by suppliers, are exempt from MiCA laws and stay unaffected.
The Danish Monetary Supervisory Authority (DFSA) has clarified its stance on cryptocurrency laws following current hypothesis. Opposite to rumors circulating on social media, DFSA has no plans for a Danish self-custodial pockets ban.
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DFSA Clarifies No Danish Self-custodial Pockets Ban
Based on Cointelegraph, Tobias Thygesen, DFSA’s director of fintech, cost companies, and governance, emphasised that the regulatory focus stays on buyer companies the place crypto belongings are managed on behalf of shoppers.
“We’re conscious of some rumors circulating on social media suggesting that the DFSA intends to ban {hardware} wallets and different non-custodial wallets,” Thygesen acknowledged, addressing the confusion. “That is incorrect. The DFSA has not proposed any such ban.”
The confusion arose from misinterpretations surrounding the Markets in Crypto-Belongings (MiCA) Regulation, set to take full impact on June 30. MiCA explicitly exempts crypto asset companies that function in a totally decentralized method with out intermediaries from regulation.
Due to this fact, non-custodial wallets, which don’t contain custody of personal keys by service suppliers, fall exterior MiCA’s regulatory scope. Thygesen reaffirmed that {hardware} wallets, which don’t entrust non-public keys to suppliers, stay impartial by MiCA laws.
Non-Custodial Wallets Exempt from MiCA Rules
Mikko Ohtamaa, co-founder of Buying and selling Technique, mistakenly interpreted DFSA’s current evaluation with a Danish self-custodial pockets ban. Nevertheless, DFSA clarified that their regulatory framework primarily targets actions involving custody and administration of crypto belongings on behalf of shoppers, making certain compliance with MiCA tips.
The DFSA’s place has clarified its dedication to balanced crypto asset regulation, specializing in custodial companies whereas permitting non-custodial options like {hardware} wallets to function freely.