Prepping for Next Year’s Travel Rule: 25 US Crypto Service Providers Publish ...
A great number of cryptocurrency businesses are preparing for the upcoming Financial Action Task Force (FATF) rules toward cryptocurrencies, specifically the Travel Rule. This month 25 Virtual Asset Service Providers (VASPs) published a paper that outlines how American-based VASPs aim to comply with the FATF Travel Rule. Digital currency companies, otherwise known as Virtual Asset Service Providers (VASPs) in the eyes of global regulators are concerned about regulation and compliance this year. In fact, in the recent report written by the Digital Currency Group (DCG), the survey’s....
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The Financial Action Task Force is looking to adapt its guidance standards for stablecoins and crypto peer-to-peer transactions. The Financial Action Task Force says it is set to publish an update to its guidelines on cryptocurrencies and virtual asset service providers; a catch-all term including exchanges, wallet providers, and custody platforms, among others.This updated document will also be made available for public consultation from key stakeholders.According to a circular issued by the FATF on Thursday, the decision to update its guidance on VASPs was the result of the....
The "Travel Rule" aims to bring reporting standards for virtual asset service providers in line with other traditional financial institutions. Tether Operations Limited, the firm operating the Tether (USDT)-centric platform tether.to, announced today that it will use Notabene, an end-to-end solution for cryptocurrency Travel Rule compliance.Tether will begin testing Notabene's cross-border transaction monitoring system for virtual asset service providers (VASPs) to combat financial crimes such as money laundering.Notabene is a new technology for monitoring cryptocurrency transactions in....
A new report claims that about 70% of respondents are either practicing the travel rule or planning to complete their compliance in Q1/Q2 2022. The cryptocurrency industry is eager to comply with the Financial Action Task Force's (FATF) so-called Travel Rule, and appears willing to work with regulators in order to expedite the process, a new survey found.As per a survey conducted by Notabene, a crypto compliance firm based in New York, most of the crypto industry will be Travel Rule-compliant by Q2 2022. Currently, the report claims that about 70% of respondents are either practicing the....
Backed by CipherTrace, TRISA looks to get virtual asset service providers (VASPs) ready for new anti-money laundering rules.
Tether, the operator of one of the leading stablecoins in the crypto market has announced it will commence trials of a system that will allow the company to comply with the Financial Action Task Force (FATF) travel rule. The system, that is provided by Notabene, a company that offers ID and travel rule compliance solutions, will allow Tether to automatically communicate travel rule data between Virtual Asset Service Providers (VASPs).
Tether Eyes Compliance Solution
Tether, the company behind the issuance of the biggest stablecoin by market cap in the cryptocurrency market, USDT,....