“We are focused on adding new members, so that TRUST can provide comprehensive compliance across the crypto industry,” said the joint announcement.
Many major crypto companies based in the United States have released a solution for the Financial Action Task Force’s Travel Rule.In a Wednesday blog post, crypto services provider Paxos announced the launch of the Travel Rule Universal Solution Technology, or TRUST, with members including Coinbase, BlockFi, Gemini, Kraken, Robinhood, Circle, and Fidelity Digital Asset Services. The endeavor is aimed at ensuring crypto firms are in compliance with the Travel Rule while also proving ownership of recipients’ crypto addresses, meeting security and privacy requirements, and not centrally storing users’ personal data.The Financial Action Task Force, or FATF, recommended to participating regulators across the global that virtual asset service providers, or VASPs, adopt certain
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