Since blockchain transactions are classified as pseudonymous, are they considered to be within the material scope of the GDPR or outside of it?

Since blockchain transactions are classified as pseudonymous, are they considered to be within the material scope of the GDPR or outside of it?
A . Outside the material scope of the GDPR, because transactions do not include personal data about data subjects m the European Union.
B . Within the material scope of the GDPR but outside of the territorial scope, because blockchains are decentralized.
C . Within the material scope of the GDPR to the extent that transactions include data subjects in the European Union.
D . Outside the material scope of the GDPR, because transactions are for personal or household purposes

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Answer: C