UK crypto businesses to comply with FATF Travel Rule beginning in September By Cointelegraph
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Crypto asset businesses in the United Kingdom will be required to comply with Financial Action Task Force (FATF) Anti-Money Laundering and Counter-Terrorist Financing rules, known collectively as the Travel Rule, beginning Sept. 1, a statement from the Financial Conduct Authority (FCA) reiterated Aug. 17. This will bring the U.K. into conformity with FATF standards set in 2019.
The Travel Rule requires virtual asset service providers (VASPs) to share customer information when making transfers to help identify suspicious transactions. The U.K. passed legislation to begin enforcing the Travel Rule in July 2022.
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Crypto asset businesses in the United Kingdom will be required to comply with Financial Action Task Force (FATF) Anti-Money Laundering and Counter-Terrorist Financing rules, known collectively as the Travel Rule, beginning Sept. 1, a statement from the Financial Conduct Authority (FCA) reiterated Aug. 17. This will bring the U.K. into conformity with FATF standards set in 2019.
The Travel Rule requires virtual asset service providers (VASPs) to share customer information when making transfers to help identify suspicious transactions. The U.K. passed legislation to begin enforcing the Travel Rule in July 2022.
Continue Reading on Coin Telegraph
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