Recent discussions and clarifications have emerged around the European Union's stance on cryptocurrency wallets and transactions. Despite fears and misinformation circulating online, the EU has not banned anonymous crypto wallets. However, new regulations continue to expand Know Your Customer (KYC) and Anti-Money Laundering (AML) requirements, limit cash transactions, and are coupled with Digital Euro plans under the AMLR law. Critics argue that while the regulations do not outright ban non-custodial wallets, they represent a step towards tighter control over cryptocurrency transactions, potentially affecting the privacy narrative within the crypto space. The new rules have sparked a debate on the balance between regulatory oversight and the preservation of privacy and autonomy in the crypto space. Some see these developments as a potential threat to self-custody and the privacy narrative within cryptocurrency, while others believe the regulations are not as alarming as perceived and emphasize the importance of self-custody in maintaining individual freedoms. Additionally, Worldcoin has faced a ban order in Europe, citing risks to children, highlighting the growing regulatory scrutiny in the region.