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FATF Says It Is Open to Amending Crypto Travel Rule Guidance
Summary: The Financial Action Task Force (FATF) said Thursday it is confident the crypto industry will be able to implement complex data sharing requirements, known colloquially as the “Travel Rule,” by time its 12-month review comes around in June of this year. FATF is open to amending the “travel rule,” its guidance for cryptocurrencies and companies providing ...
The Financial Action Task Force (FATF) said Thursday it is confident the crypto industry will be able to implement complex data sharing requirements, known colloquially as the “Travel Rule,” by time its 12-month review comes around in June of this year. FATF is open to amending the “travel rule,” its guidance for cryptocurrencies and companies providing services within the space.
A U.S. Treasury Department statement said, “The updated guidance will help countries and VASPs understand their [anti-money laundering/countering the financing of terrorism] obligations and effectively implement the FATF’s requirements in key areas, including how the FATF Standards should be applied to stablecoins, travel rule implementation, and how to address the risks of peer-to-peer transactions” .
By Amy Liu
Tags: Crypto,FATF,Travel Rule
Link: FATF Says It Is Open to Amending Crypto Travel Rule Guidance [Copy]
