Tether trials Notabene’s new travel rule technology to combat financial crimes
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....
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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,....
The Bitcoin community is cringing as the Federal Reserve and the Financial Crimes Enforcement Network, a branch of the U.S. Treasury, looking to decrease the reporting requirements imposed on financial institutions. Bitcoin Community Doesn’t Like the Recent “Travel Rule” Moves These two entities are specifically targeting the so-called “Travel Rule,” which requires institutions to collect, retain, and share information about their clients. Those that have to abide by the Travel Rule include crypto exchanges. Integration […]
Launched in production in 2020, Notabene’s Travel Rule solution now processes transactions among 50 crypto exchanges. Cryptocurrency exchanges Bitfinex is preparing to test out a new Anti-Money Laundering (AML) tool on its platform.The firm announced Wednesday that it will be testing a new solution designed for complying with the “Travel Rule,” an AML and Counter Financing of Terrorism regulation for financial institutions introduced by the Financial Action Task Force (FATF) in 2019.Bitfinex partnered with compliance startup Notabene to implement its software-as-a-service solution to....
On Wednesday, the publicly-listed cryptocurrency firm Coinbase announced the launch of a collaborative effort called TRUST, which stands for “Travel Rule Universal Solution Technology.” The plan is described as an “industry-driven solution” developed to comply with the Financial Action Task Force (FATF) Travel Rule. There are currently 18 crypto firms that have joined TRUST so far, and the collaborative effort is welcoming other companies to join the initiative. 18 VASPs Launch TRUST in Order to Comply With FATF’s Travel Rule For quite some time now,....
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....