“Crypto.com Implements EU Travel Rules Ahead of Schedule, XRP Users Outraged! Privacy vs Compliance Battle Imminent!”

According to reports, Crypto.com has taken the initiative to implement the EU's upcoming travel rules ahead of time, directly preventing users from making XRP deposits, which has sparked a strong reaction from the community. Under EU regulation (EU) 2023/1113, exchanges are required to collect transfer details (including the identities of both parties and the source/destination of funds), which is set to take effect on December 30. However, Crypto.com chose to 'cut in' early.

Notable crypto figure, Alpha Lions Academy CEO Edoardo Farina, voiced his frustrations on X, stating that he was required to fill out additional information when trying to deposit XRP, saying, 'The rules aren’t in effect yet, why do I have to suffer first?' He questioned why this requirement only applies to cross-border transfers, as he was trading within his own country. Farina further pointed out that this kind of 'early enforcement' brings to mind the previous Ripple lawsuit, where certain exchanges delisted XRP in advance, leaving users in unnecessary predicaments.

Centralized Exchanges: Compliance Pioneers or User Nightmares?

In recent years, centralized exchanges have faced criticism for frequently 'walking the line' between regulation and user rights: from Coinbase unexpectedly freezing accounts to Crypto.com's preemptive restrictions, all of which prompt reflections on whether these platforms' actions contradict the original intentions of the crypto industry.

In contrast, decentralized exchanges are favored by some users for their censorship-resistant characteristics, but they also face controversy over illegal activities due to loose regulation. Against this backdrop, Crypto.com's recent actions seem to signal that global regulation of the crypto industry will only become stricter, and the implementation of the EU travel rules may just be the beginning.

Trump's Return, the 'American Time' for the Crypto Market?

Interestingly, in stark contrast to the tightening regulation in the EU, the US market appears to be experiencing a turning point. With Trump back in the White House, he has explicitly stated his intent to vigorously promote the development of the crypto industry. Analysts predict that the US may become the leader in the global crypto market, and a contest for the global crypto landscape may unfold in the future.

Tightening Compliance, Eroding Privacy, Can Players Keep Their Freedom? Join the Hunters, track the changes in rules, and see the opportunities behind the storm!