Tagged: Travel Rule

Regtech Sumsub and Payments Infrastructure Provider Mercuryo Release Informative Update on VASPs

Sumsub has teamed up with Mercuryo, a global payments infrastructure platform, to publish a detailed update for Virtual Asset Service Providers (VASPs), titled “Mastering Travel Rule Compliance”. The update reportedly covers everything businesses in “the digital token space need to know about the Travel Rule… Read More

Binance Joins Global Travel Rule Alliance to Enhance Interoperable Compliance and Security

Making crypto compliant with existing regulatory frameworks and interoperable with traditional legal and financial systems is “an enormous yet hugely worthwhile task,” according to Binance, which remans the world’s largest crypto exchange in terms of trading volume and overall scope of operations. This, despite having… Read More

Coinbase Introduces Option for Travel Rule Universal Solution Technology (TRUST)

Coinbase (NASDAQ:COIN) is pleased to announce the introduction of a new, no-fee membership option for the Travel Rule Universal Solution Technology (TRUST) – the global, industry-driven Travel Rule solution that prioritizes customer security and privacy. TRUST is the world’s Travel Rule solution, born out of… Read More

European Banking Authority Publishes Guidance on Money Laundering, Terrorist Financing for Crypto Firms

The European Banking Authority (EBA) has shared its guidance on money laundering (ML) and terrorist financing (TF) for crypto asset service providers (CASPs). All banks must adhere to strict Anti-Money Laundering (AML) and Know Your Customer (KYC) rules, and crypto firms are no different. The… Read More

Blockchain Firm Elliptic and CODE to Support AML and Travel Rule Compliance in South Korea

Elliptic – the firm enabling blockchain analytics and data intelligence – and CODE – a South Korean Travel Rule solution provider – have launched a partnership which represents Elliptic’s entrance into the Korean market. The new alliance will help companies in the country ramp up… Read More

Digital Asset Firm Gemini Says It’s Dedicated to UK Market and Complying with Travel Rule

At Gemini, they believe that the crypto ecosystem must include guardrails and an appropriate level of transparency to protect users from financial crime and fraud. Gemini claim they have always “been dedicated to regulatory compliance and believe that adherence to the Travel Rule is an… Read More

Sumsub Launches 6-Month Free Travel Rule Compliance Solution

Sumsub, a global full-cycle verification platform, today launched a six-month free trial of its Travel Rule compliance solution. The product will be available to global cryptocurrency organizations in time for the enforcement of the landmark Crypto Travel Rule legislation expanding in the United Kingdom today to further combat money laundering and terrorism… Read More

UK’s FCA Outlines Expectations for Crypto-Asset Firms Complying with Travel Rule

The UK’s Financial Conduct Authority (FCA) is setting out their expectations for crypto-asset businesses that need “to comply with a change in money laundering legislation legislated by government in July 2022.” From 1 September 2023, crypto-asset businesses in the UK will be “required to collect,… Read More

FATF: Implementation of Crypto Travel Rule “Relatively Poor”

The FATF (Financial Action Task Force) has just concluded its third Plenary under the Presidency of T. Raja Kumar of Singapore and has posted an update on the gathering. Amongst other hot topics, the group has bemoaned the slow pace of adoption of the FATF… Read More

Crypto Compliance: BitMEX Joins TRUST Protocol to Expand Travel Rule Compliance Capabilities

BitMEX, which claims to be one of the world’s most trusted crypto trading platforms for professional and institutional traders, has joined the Travel Rule Universal Solution Technology (TRUST), which is described as an industry-driven Travel Rule compliance solution for global virtual asset service providers (VASPs)…. Read More

Sygna, Shyft Veriscope to Enhance Crypto Travel Rule Interoperability, Compliance

Sygna, the modular crypto AML compliance service provider, has partnered with Shyft Veriscope, the “frictionless” crypto Travel Rule compliance solution, in order “to bring a seamless user experience to Sygna’s users and the crypto industry one step closer towards full interoperability and a solution to… Read More

FATF Posts Plenary Outcomes

The Financial Action Task Force or FATF, the global AML/CFT group, has announced the outcomes of its most recent plenary. Included in the announcement are several items of note. Filed under “improving implementation of FATF requirements for virtual assets and virtual asset service providers,” the… Read More

Coinfirm Integrated Into Veriscope, Shyft Network’s Travel Rule Compliance Provider

Regtech Coinfirm has been integrated into Shyft Network’s Veriscope, a Travel Rule product. Shyft Network is “a public protocol designed to power data discoverability and compliance into blockchain while preserving privacy and sovereignty.” Facilitating the transfer of verifiable data between centralized and decentralized ecosystems, Shyft… Read More

FATF Issues Update on Virtual Asset Standards, Virtual Asset Service Providers (VASPs)

FATF (Financial Action Task Force) has issued an update on virtual assets (VAs) and virtual asset service providers (VASPs) and approved standards and implementation. FATF is a global entity but does not have rule-making authority as regulations must be set by members. FATF has pursued… Read More

FATF Meets, Discusses VASPs Including Travel Rule

The Financial Action Task Force (FATF), a global entity that engages financial regulators around the world, met this week to discuss multiple initiatives including the digital asset marketplace and Virtual Asset Service Providers (VASPs) as well as Travel Rule implementation. The Travel Rule is a… Read More

Tokenize Xchange Joins VerifyVASP Alliance, Pursues Seamless Digital Asset Experience

Tokenize Xchange (aka Tokenize), a Singapore-headquartered digital asset exchange, has joined the VerifyVASP alliance as it aims to create a seamless, compliant experience for its users of digital assets. According to a note from Tokenize, the company will utilize VerifyVASP’s network to connect with other… Read More

Bitstamp Complies with FATF Travel Rule in US, EU and Singapore

Bitstamp is reporting that it has implemented Notabene’s solution for regulatory compliance under FATF’s global Travel Rule regulations across the US, EU, and Singapore. Notabene is a Regtech Software-as-a-Service solution provider that is headquartered in New York with offices around the world. The Financial Action… Read More

Travel Rule Universal Solution Technology (TRUST) is Solution for FATF Travel Rule, Supporters Aim to Establish Industry Standard

Announced today, the Travel Rule Universal Solution Technology (TRUST) is an industry-embraced solution to comply with the FATF Travel Rule that targeted VASPs (virtual asset service providers) globally. Announced by founding members who include most of the biggest names in crypto, the Trust platform is… Read More

Crypto Regulations Must Have International Focus in 2022 and Beyond: William Je

Cryptocurrency regulations are evolving quickly around the globe as authorities respond to the growing risks posed by criminals exploiting the latest payment methods to mask and launder the profits from their crimes. According to William Je, founder and CEO of Hamilton Investment Management, this growth has warranted the introduction… Read More

US Department of Treasury Reports on Money Laundering in the Art Market, NFTs May Present New Risk

Yesterday, the US Department of Treasury issued a statement on illicit activity in the “high-value art market.” More specifically, activities that include money laundering and terrorist financing risks. The study found that while there is some evidence of money laundering risk in the high-value art… Read More

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