Companies propose travel rule solutions, but governance question remains
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Quick Take
- Some companies have begun proposing solutions to FATF’s implementation of a travel rule for crypto
- These solutions are notably lower tech, not utilizing blockchain to send the necessary information
- While the industry seems closer to solving the problem on the tech front, reaching a global consensus for a solution may be further off
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. […]
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