A custodial wallet leaves the private keys with a third party such as an exchange, while a non-custodial wallet puts them in the user's hands. That choice decides who can move funds, who carries the risk and who must meet regulatory duties.
KYC/AML means the Know Your Customer and Anti-Money Laundering controls regulated firms use to verify customers and detect suspicious money flows. They apply to banks, payment firms and, in many countries, crypto exchanges.
An MPC wallet is a crypto wallet whose private key is never held in one place. Several parties each keep a key share and sign together, so no single device, person or server can move funds alone.
A Web3 wallet is an app or device that holds the keys to a user's blockchain accounts and signs transactions. It lets people hold assets and connect to decentralised applications under their own control.
Account abstraction turns a blockchain account into a programmable smart contract rather than a single private key. The account's own code then decides how transactions are signed, how access is recovered and who pays the fees.
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