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Had it been applied as proposed, the rule would have required the sender of any transaction between unhosted wallets to gather know-your-customer information from the receiver. The same proposal within the U.S. acquired backlash as a result of considerations about whether or not it could even be attainable for some entities, like sensible contracts with their very own wallets, to conform, in addition to whether or not the information can be protected if any random particular person needed to retailer it.
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