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Unhosted Wallet

In their Interpretive Letter #1172, the Office of the Comptroller of the Currency (OCC) defines an unhosted as “one where an individual owner of a cryptocurrency maintains control of the cryptographic keys for accessing the underlying cryptocurrency.” Also sometimes referred to as “self-hosted wallets,” “private wallets,” and “personal wallets.”

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Unspent Transaction Outputs (UXTO)

When a bitcoin transaction takes place the sender typically sends an amount greater that value of the transaction and the remainder or “change” is returned to them as Unspent Transaction Outputs (UXTO). Just like a cash transaction, the sender get some funds returned to them unless they have exact change. UTXOs are the building blocks…

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