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Are Phantom and other Non KYC Wallets Impacted by New EU Law? (Patreon)

Published:
2025-05-03 20:02:47
Imported:
2026-06
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Per my previous post, tons of Qs re Wallets - well bad news. It appears they too are impacted.

Yes, something like a Phantom wallet could be impacted by the EU's new AML/CFT rules banning anonymous cryptocurrencies by 2027.

Phantom is a non-KYC (Know Your Customer) wallet, meaning you don’t have to provide personal identification to use it. It is on Solana, and the most popular wallet today, and it’s often used for privacy because it doesn’t link your identity to your transactions.

I am sure this applies to all wallets unless they KYC

h/t Sanjay for the research

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Comments

Tony mcT

If anyone wants [non] financial advice on legally avoiding Cap Gains, I have spent the last 5 years getting it right. Don't hesitate to ask... Paying tax in UK Europe and USA is basically funding terrorism and I wont do it!!!

LeapToGrow

After reading some comments here (maybe I shouldn't) Let's all complain less about taxes, yes be smart, but if you are in a position to 'worry' about taxes on your gains... it's all good ;) I am sure most people will only use the 'saved' taxes for themselves... I have been around to many people that complain about taxes and they are defiantly not sharing any wealth or use it for good. Governments can have their power plays, it will never be perfect... but complaining about the taxes, not paying and running away is not the solution. It seems that more and more people are only thinking about themselves, pointing at others and this will definitively not help.