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. An identical proposal within the U.S. acquired backlash as a result of considerations about whether or not it might even be attainable for some entities, like good contracts with their very own wallets, to conform, in addition to whether or not the information could be protected if any random particular person needed to retailer it.
