2 years ago
One week aft introducing the Address Ownership Proof Protocol, oregon AOPP, the hardware wallet institution backtracked connected its determination owed to lawsuit privateness concerns.
Since 2019, Swiss fiscal crypto intermediaries person required impervious of ownership of an outer wallet's code for Bitcoin withdrawals and deposits to their customers' non-custodial wallets. One automated mechanics utilized for this is the Address Ownership Proof Protocol, oregon AOPP.
The Trezor hardware wallet introduced AOPP singing arsenic portion of its latest January update past week, allowing users to make signatures that conform to the AOPP modular utilized successful definite jurisdictions. Today, Trezor announced that it volition region this protocol successful the adjacent Trezor Suite update "after cautious information of caller feedback."
Recent feedback refers to Reddit and Twitter users who were acrophobic that the usage of AOPP signaled Trezor's enactment for greater regularisation and a disregard for a imaginable nonaccomplishment of privacy.
— Trezor (@Trezor) January 28, 2022In a blog station explaining the removal, Trezor admitted it "underestimated however this diagnostic would beryllium received," but that the institution "welcome nationalist scrutiny." The information that it listened to its users and reacted truthful rapidly demonstrates the powerfulness of societal media sentiment.
The hardware wallet maker claimed it is against the regulations that interest AOPP, namely the information leak risks associated with utilizing a stringent recognition process similar Know Your Customer, oregon KYC, to bargain Bitcoin. The institution clarified its intent:
"Our sole purpose was to marque withdrawal to self-custody easier for users successful countries with strict regulation, but we admit that much harm than bully could beryllium done successful the extremity if this were viewed arsenic proactive compliance with regulations we bash not hold with."Other hardware wallets specified arsenic Sparrow Wallet, Samourai Wallet and BlueWallet have besides decided to travel Trezor and region the automated protocol.
✅ @SparrowWallet - Removing AOPP adjacent release
✅ @bluewalletio - Removing AOPP adjacent release
✅ @Trezor - Removing AOPP adjacent release
Congrats to these projects for spot & resoluteness to perceive to the community. Congrats to the assemblage who successfully made their desires known https://t.co/RuqnxgbJfu
Related: Engineer hacks Trezor wallet, recovers $2M successful 'lost' crypto
While the AOPP protocol whitethorn not straight oregon negatively interaction users of non-custodial wallets, decentralization and state are cardinal tenets to the crypto assemblage and its users worth their privacy. The main interest is that the implementation of AOPP whitethorn acceptable a precedent for accrued authorities power and surveillance.
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