Governments Begin to Roll Out FATF’s Travel Rule Around the Globe

Cointelegraph | Feb 14, 2020 at 11:13 PM
  • It’s been nearly eight months since the Financial Action Task Force issued its divisive crypto directives, establishing traditional banking regulations within the crypto sector.
  • Among the more notable directives is the travel rule: a requirement for “virtual asset service providers” or VASPs — including crypto exchanges and custodial wallet providers — to disclose customer information when facilitating a trade of $1,000 or higher.
  • The bill introduced an AML framework requiring all crypto-related businesses in South Korea to follow FATF compliance to the letter.