![](https://miro.medium.com/max/1200/1*LeBVbGpJCBQOGlF8HNSdtg.png) #### | [ZENZO Website](https://zenzo.io/) | [Twitter](https://twitter.com/zenzo_ecosystem) | [Facebook](https://facebook.com/Zenzoecosystem) | [Discord](https://discord.gg/tvqcQuj) #### Effective 10 January 2020, all members of the European Union are expected to comply with the new anti-money laundering laws that entered into force on 9 July 2018. The [5th revision of the Anti-Money Laundering Directive (AMLD)](https://eur-lex.europa.eu/eli/dir/2018/843/oj) extends the scope of the laws to include virtual currencies and custodian wallet providers. >“custodian wallet provider” means an entity that provides services to safeguard private cryptographic keys on behalf of its customers, to hold, store and transfer virtual currencies.’ #### According to the 2018 amendments, exchanges that allow trading between virtual and fiat currencies would need to be registered. Custodian wallet providers would also need to be registered. #### Furthermore, providers of such services are required to implement Know Your Customer (KYC) verification for their users so that all virtual currency addresses can be traced back to their owner. #### By the above definition, the ZENZO Discord wallet qualifies as a "custodian wallet" and would be required to comply with the 5th AMLD starting 10 January 2020. After much consideration, the ZENZO team has decided to permanently discontinue the Discord wallet with effect from 30 December 2019. #### ZENZO Discord users are advised to check and withdraw their ZENZO Discord wallet balance to their ZENZO Core wallet by 29 December 2019. Please refer to the ZENZO's team [Medium](https://medium.com/@zenzo_ecosystem/important-update-custodial-wallet-discord-closing-cd9e9392fcaa) article for an in-depth guide on the process. Follow me on @cgrave ![](https://steemitimages.com/DQmU7cwKpKKXKRCgeAuuZRqEPxdAH3TsKQRphwUF34YvcPU/image.png)