This episode is sponsored by Nexo.ioNEAR and FTX US.

On today’s episode, NLW explores the ongoing policy debate around “unhosted” (or, as crypto users call them – “self-hosted”) wallets, looking at MiCA legislation in Europe, an updated policy for the U.K. and hints from the Biden administration in the U.S.

“The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell, research by Scott Hill and additional production support by Eleanor Pahl. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsors is “Catnip” by Famous Cats and “I Don't Know How To Explain It” by Aaron Sprinkle. Image credit: Westend61/Getty Images, modified by CoinDesk. Join the discussion at