The FATF guidance, which is more or less obligatory for its 39 member nations and jurisdictions to adopt in regulation, stipulates that exchanges, or virtual asset providers (VASPS), must obtain, store and be able to pass on data on their users when transactions worth $1,000 or over are made. This provides a digital paper trail that can be followed in order to prevent financial crimes such as money laundering or terrorism financing.
Related posts
-
Crypto Infrastructure Firm Ramp Network Secures Ireland Registration
It plans to make Ireland its European headquarters and secure a license as a Crypto Asset... -
Non-Empty USDC And USDT Wallets See 13.9% And 15.7% Spike, Why This Is Good For Crypto
Non-empty wallets for stablecoins such as Circle’s USDC and Tether’s USDT have been on the rise... -
Crypto Whales Pile into New Solana Project Thotiana – Next 100x Meme Coin?
PRESS RELEASE. May 23rd, 2024. In an exciting development...