Hardware wallet maker Trezor announced last Thursday it had adopted software that makes it easier for Switzerland residents to withdraw crypto from a regulated exchange to their own wallet – then reversed course a day later. So what happened?
Within moments of the first story breaking, a Crypto Twitter storm-in-a-teacup was brewing. Some argued that Trezor’s decision to adopt the Address Ownership Proof Protocol (AOPP) was legitimizing wallet verification and facilitating creeping regulatory overreach, signaling a decay of the crypto community’s freedom.
But if you’ve ever had to transact with a Swiss crypto exchange, you probably breathed a sigh of relief upon reading the news, because getting your crypto off a Swiss exchange is a pain in the bum.
Leah Callon-Butler, a CoinDesk columnist, is the director of Emfarsis, a consulting firm based in Southeast Asia. The views expressed here are her own.
If you live in Switzerland, you must prove you are the owner of the wallet that…