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Gemini will be restricting its UK users to sending only to 58 virtual asset service providers that are registered under the Travel Rule starting Nov. 17. A Trezor analyst argues the measures will go against the principles of Bitcoin and financial freedom.
The crypto Travel Rule, which came into effect on Sept. 1, aims to stop anti-money laundering and counter-terrorist financing activities carried out on-chain.
The United Nations body called on all member states to implement the Travel Rule “without delay” to close “loopholes” not currently protected by regulation.
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The Japanese parliament has decided to roll out tougher AML procedures in line with the “travel rule.”
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Members of the European Parliament gave their final approval to a package of EU-wide regulations for crypto assets. The legislators also backed the introduction of mechanisms allowing the tracing of cryptocurrency transactions which will also apply to private crypto wallets above a certain threshold. European Lawmakers Endorse Groundbreaking Crypto Assets Legislation Europe’s new common rules […]Powered by WPeMatico
Paypal has stepped up its regulatory compliance by joining TRUST to streamline its reporting requirements relating to the digital assets “travel rule.”
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The Financial Superintendence of Colombia presented a project that seeks to bring clarity to how links between banks and virtual asset service providers (VASPs) will be handled in the future. The document defines certain key concepts and determines a set of prerequisites that banks need to verify before accepting virtual asset service providers as customers. […]Powered by WPeMatico
Coinbase has announced that the company plans to introduce a number of changes for customers in the Netherlands in order to comply with the 1977 Sanctions Act, a law that recently applied know-your-customer (KYC) guidelines to non-custodial wallets. If the person living in the Netherlands wants to send crypto to a third-party wallet via Coinbase, […]Powered by WPeMatico
Complying with the rules puts South Korea ahead of the curve for regulating virtual assets, but may be harming the domestic industry with overbearing transfer restrictions between exchanges.
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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 […]Powered by WPeMatico