Since the Financial Action Task Force (FATF) released its guidance in June, industry players have raced toward a protocol solution for the so-called “travel rule.” Now multiple entities are coming forward with proposals. However, Global Head of Policy at Chainalysis Jesse Spiro said the travel rule conversation is moving from technical solutions toward governance concerns.
The inclusion of a travel rule caused something of a shakeup in the crypto world, mandating virtual asset providers (VASPs) be held to a traditional banking standard. VASPs must collect and transfer the name and account number of both the originator and beneficiary, as well as the location information of the originator.
Join Genesis now and continue reading, Companies propose travel rule solutions, but governance question remains!
Companies propose travel rule solutions, but governance question remains written by Aislinn Keely @ https://www.theblockcrypto.com/daily/39661/companies-propose-travel-rule-solutions-but-governance-question-remains?utm_source=rss&utm_medium=rss&utm_campaign=default September 14, 2019 Aislinn Keely