The Financial Action Task Force (FATF) Travel Rule, originally designed to combat money laundering in traditional finance, has become a contentious issue in the world of digital assets. Its extension to bitcoin has sparked heated debates over its impact on privacy and the princip…
The Financial Action Task Force (FATF) Travel Rule, originally designed to combat money laundering in traditional finance, has become a contentious issue in the world of digital assets.
Its extension to bitcoin has sparked heated debates over its impact on privacy and the principles of decentralization.
What is the Travel Rule?
Introduced in 2012, the Travel Rule requires financial institutions to collect and share Know Your Customer (KYC) information with other institutions involved in a transaction. In recent years, this rule has been expanded to include Virtual Asset Service Providers (VASPs), placing bitcoin and other digital assets under its regulatory framework.
Critics argue that applying…
