Recent discussions and clarifications have emerged around the European Union's new regulations on cryptocurrency transactions, specifically targeting the anonymity of transactions and the use of self-custodial (unhosted) wallets. The EU's Anti-Money Laundering Regulation (AMLR) has been a focal point, with misunderstandings leading to claims of a complete ban on self-custodial wallets and anonymous crypto transactions. The regulation requires that crypto payments to registered businesses over €3,000 undergo Know Your Customer (KYC) procedures, aiming to curb money laundering and ensure financial transparency. However, peer-to-peer (P2P) transfers and payments under €3,000 from self-custody wallets are not banned. The crypto community has expressed concerns about the potential for these regulations to be extended beyond the EU and the implications for financial privacy and the future of decentralized finance (DeFi).