Crypto Exchanges Need Common Messaging to Comply With Travel Rule
From ATMs to cargo containers, standards make global commerce work. The same goes for crypto, which needs standards to comply with anti-money laundering rules.
It's unclear what the new group's mission will be, though People's Bank of China employees working on its digital currency efforts will be involved.
Russia would likely welcome replacements for SWIFT as the nation's banks have been threatened with being removed from the network.
Russia's foreign affairs ministry believes SWIFT can be replaced by more advanced systems, mentioning blockchain.
Enterprise blockchain doesn't need to reinvent the wheel: Communications standards in use for decades are built for machine-to-machine commerce.
Clean bitcoin, dirty bitcoin. Could FATF regulations lead to a bifurcation of the crypto space, one where certain digital assets trade at lower prices?