What Is the "Travel Rule" and How Does It Affect Crypto Exchanges? ▴ Learn

What Is the “Travel Rule” and How Does It Affect Crypto Exchanges?

The FATF "Travel Rule" requires Virtual Asset Service Providers (VASPs), including exchanges, to share identifying information about the originator and beneficiary of a virtual asset transfer above a de minimis threshold. This significantly impacts exchanges by requiring them to collect and transmit customer data, which is challenging for a global, pseudonymous industry.

It is a major hurdle for privacy-focused transactions.

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