These include market - making activities and settlement services for exchanges, such as virtual currency wallets. (ethnews.com)
Most virtual currency wallets require users to confirm their identity with their phone number through two - factor authentication, so a hacker can steal a person's bitcoin once they successfully port a number to their own device and change the password to the person's virtual currency. (inc.com)
In an effort to counter the potential sweeping inclusion of all wallets in the AML Proposal, Jouke Hofman, CEO of Bitcoin - brokerage Bitonic and exchange BL3P, initiated outreach to the Dutch Ministry of Finance, and other virtual currency wallet and exchange companies, to explain the need for more specific guidance on who exactly is covered by the directive and the importance of balancing anti-terrorism AML efforts with technological innovation: (ethnews.com)