The Danish Financial Supervisory Authority (DFSA) is taking steps to eliminate unhosted Bitcoin (BTC) wallets as part of its updated guidelines on decentralized funding (DeFi).
The DFSA’s new position requires all crypto service providers, including interface and mobile app developers, to operate under strict regulations. This is in line with the upcoming Cryptoasset Market Regulations (MiCA), which will soon be partially implemented across the European Union.
With these changes, crypto exchanges and trading platforms will no longer be able to offer Bitcoin wallets, DEX interfaces or other crypto-related services to Danish users unless they receive regulatory approval in Denmark.
The European Banking Authority (EBA) recently finalized technical standards under MiCA, ensuring that EU firms meet strict financial requirements.
These include own funds adjustments, liquidity provisions and strict recovery plans for crypto issuers, with significant implications for stablecoins pegged to the US dollar.
Some market analysts argue that these new regulations are overly restrictive. Mikko Ohtamaa, who reported on the ban in question in Denmark, suggested that MiCA’s rules may be aimed at phasing out digital assets, a view echoed by SEC Chairman Gary Gensler. Ohtamaa believes that these rules could effectively ban cryptocurrencies by imposing excessive controls.
Kazakhstan is taking a major step toward integrating digital assets into its national financial strategy, with plans to establish a state-managed crypto-reserve.
Bitvavo, Europe’s largest euro-denominated spot crypto exchange, has officially received a MiCA license from the Dutch Authority for the Financial Markets (AFM), allowing the firm to operate across all 27 European Union member states.
In just two months, crypto tax platform CoinLedger observed a staggering 700% surge in the number of U.S. users receiving IRS warning letters, signaling a sharp escalation in federal tax enforcement targeting digital asset holders.
Ripple CEO Brad Garlinghouse announced Friday that the company is officially dropping its cross-appeal in its long-running legal battle with the U.S. Securities and Exchange Commission (SEC), signaling a final move toward ending the years-long case.