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Binance Partners With Blockchain Protocol Shyft Network In Order To Comply With FATF Regulations

Roland James

Summary: Binance, one of the top cryptocurrency exchanges, has now partnered with public blockchain protocol Shyft Network as it prepares itself to comply with Financial Action Task Force (FATF) regulations. The Shyft Network was devised to provide a decentralized solution for crypto industry players to meet global compliance standards, including the FATF’s “travel rule.” According to ...

Binance, one of the top cryptocurrency exchanges, has now partnered with public blockchain protocol Shyft Network as it prepares itself to comply with Financial Action Task Force (FATF) regulations.

The Shyft Network was devised to provide a decentralized solution for crypto industry players to meet global compliance standards, including the FATF’s “travel rule.” According to a report from Cointelegraph, Binance’s chief compliance officer Samuel Lin stated that, until he creation of the Shyft Network, there was no existing infrastructure by which firms could comply with the new FATF rules.

By Roland James

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