Getting crypto exchanges across the world to plug into each other and share sensitive customer data is proving to be a complex problem.
Nonetheless, firms have to show real progress on this by June of this year, according to new anti-money laundering (AML) rules from global AML watchdog the Financial Action Task Force (FATF).
Announced Thursday, the Travel Rule Information Sharing Alliance (TRISA), one of the better-known solutions being proposed, is launching a testnet that includes a directory of virtual asset service providers (VASPs) and scenario testing for inevitable contact with non-compliant firms.
The FATF rules require crypto companies to share personally identifiable information (PII) for transactions over a certain amount….