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U.S. Crypto Giants Jointly Develop The Solution Of FATF's Travel Rule
Summary: According to Coindesk, the U.S Travel Rule Working Group (USTRWG), established by crypto industry giants such as BitGo, Coinbase, Gemini, Kraken, and Fidelity, is creating an anti-money laundering solution that complies with Financial Action Task Force (FATF). The "Travel Rule" of the FATF requires that when a regulated company transfers cryptocurrency, the personal identification information ...
According to Coindesk, the U.S Travel Rule Working Group (USTRWG), established by crypto industry giants such as BitGo, Coinbase, Gemini, Kraken, and Fidelity, is creating an anti-money laundering solution that complies with Financial Action Task Force (FATF).
The "Travel Rule" of the FATF requires that when a regulated company transfers cryptocurrency, the personal identification information of customers needs to be shared.
The first version of the solution has been launched, passing the virtual identification information test. The organization will begin to deploy the transaction of real identification information at the end of the fourth quarter and is expected to launch version 1.5 of the solution at the end of this year, which will support Bitcoin and Ethereum transactions.
By Mary Liu
Tags: BitGo,Coinbase,FATF,Gemini,Kraken,Travel Rule,USTRWG
Link: U.S. Crypto Giants Jointly Develop The Solution Of FATF's Travel Rule [Copy]
