Catarina Veloso

Legal Engineer @notabene_id. Bom garfo

[Patrick Hansen @paddi_hansen]

𝐊𝐞𝐲 𝐋𝐞𝐬𝐬𝐨𝐧𝐬 𝐟𝐫𝐨𝐦 6 𝐌𝐨𝐧𝐭𝐡𝐬 𝐨𝐟 crypto 𝐓𝐫𝐚𝐯𝐞𝐥 𝐑𝐮𝐥𝐞 𝐈𝐦𝐩𝐥𝐞𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐢𝐧 𝐭𝐡𝐞 𝐄𝐔 𝐯𝐬 𝐔𝐊 🇪🇺 🇬🇧

The EU should reassess its approach to transfers involving third-party self-custody wallets.

🇬🇧 𝐔𝐊
• 100% of CASPs compliant by end of 2023
• 13-month runway, joint public-private guidance, regulator-led testnets
• Crucially: risk-based approach to self-custody → ID checks only when necessary and high-risk
➡️ Result: Minimal disruption, full compliance, and preserved user autonomy

🇪🇺 𝐄𝐔
• Only 28.8% of CASPs compliant by mid-2025
• Main issue from my perspective: EBA guidance now requires ID checks for all third-party self-custody transfers > €1k, even when risk is low
• This extends what had been agreed upon in the Level 1 law, which required ID checks (e.g., satoshi tests/message signing) only for > €1k transfers to/from self-custody wallets owned by the CASP’s own customer.
• Now, CASPs are being pushed to verify the identity of someone who isn’t their customer—operationally challenging if not impossible.

🔒 The outcome?
• EU CASPs are now 55% more likely to block self-custody transfers than global peers according to @notabene_id
• This fuels de-risking, reduces EU CASP competitiveness, and drives users outside the regulated perimeter
• Test it yourself: try sending €1k from your EU exchange to someone else’s wallet—you’ll likely be blocked

I highly recommend reading @CatarinaVelos12 breakdown of how the UK and EU have approached the Travel Rule and strongly agree with her (link in comments).

The EU should realign supervisory expectations with the risk-based approach originally agreed in the Level 1 text.

Otherwise, the Travel Rule could end up undermining its own purpose: increasing transparency without excluding users from the regulated crypto ecosystem.

[Catarina Veloso @CatarinaVelos12]

@paddi_hansen Thank you for sharing! Glad it was useful :)

[Leonor Caldeira @leonorcaldeira]

Não me digam que a sociedade portuguesa não deu grande importância a abusos sexuais de menores e violações na hora de escolher pessoas para lugares de poder. Por essa não esperava eu.

[Catarina Veloso @CatarinaVelos12]

@leonorcaldeira @Madveloso98 @LuisaTMota Incríveis!!!!!!!!

[Catarina Veloso @CatarinaVelos12]

@leonorcaldeira Cada vez que vejo "WiFi on board" penso NAOOOOO os aviões eram o último sítio de sossego. Proíbam lá isso por alguma razão de segurança pls

[Catarina Veloso @CatarinaVelos12]

Pump not fun

[Catarina Veloso @CatarinaVelos12]

@JakeSenftinger Greatttt

[Catarina Veloso @CatarinaVelos12]

@CatCoutinho79 💓💓

[Catarina Veloso @CatarinaVelos12]

@leonorcaldeira Famous last words

[jake @huntichon]

Sex and the City is fun to rewatch at different points in your life cuz your perspective on whatevers happening changes like sometimes you get Carrie other times u can't stand her... but no matter what Samantha is always the queen she transcends time and space

[Catarina Veloso @CatarinaVelos12]

@VitalikButerin 👏👏

[vitalik.eth @VitalikButerin]

Against choosing your political allegiances based on who is "pro-crypto"

https://t.co/rEbRjZYtFB

[Catarina Veloso @CatarinaVelos12]

@jopintopt 😶

[Catarina Veloso @CatarinaVelos12]

@speraltalisboa @cmlisboa @Moedas 😶😶😶😶😶

[dragon age fan @dragonagefan67]

sorry for how i acted when there were multiple noises happening at the same time

[Catarina Veloso @CatarinaVelos12]

@AboimPires @leonorcaldeira

[Catarina Veloso @CatarinaVelos12]

@leonorcaldeira 🥹🥹🥹 lindos

[Catarina Veloso @CatarinaVelos12]

Se não conservam essa capacidade, são parte do problema. A vossa polarização destrutiva só atrasa o urgente debate construtivo sobre como se combate a ascensão da extrema direita.

[Catarina Veloso @CatarinaVelos12]

A todos os democratas que conservam a capacidade de ouvir uma opinião diferente da sua sem a colar ao polo oposto da discussão, vão ouvir a @leonorcaldeira neste podcast. https://t.co/1r3V8Yl8TO

[rui tavares @ruitavares]

Hoje, 1.º de Maio, Dia Internacional do Trabalhador, é então um bom dia para celebrar Fernão Botto Machado, escritor, político e diplomata, autor da primeira lei portuguesa das 8 horas de trabalho. Conhecer a nossa história é ajudar a fazer o futuro.