Cryptocurrency Exchanges Pressured to Collect More Private User Information by FATF

The FATF’s recent guidelines have widespread implications on what private information exchanges need to track and collect from customers. Here are some insights on the recent regulation from CipherTrace’s Nov. 5 Cryptocurrency Travel Rule Compliance Conference and Hackathon.

An event oriented around the integration of cryptocurrency into the modern financial infrastructure may be at odds with the cypherpunk ethos. However, next year the cryptocurrency Travel Rule is going into effect and will affect cryptocurrency holders and blockchain-based institutions.

CipherTrace, a blockchain tracing and security company, put the conference together to shed light on the impacts of the upcoming Financial Action Task Force guidelines that take effect in June 2020.

The event also featured a hackathon, a competition where software developers attempt to build solutions in a limited timeframe. The competition was focused on developing better industry-wide solutions for transferring sensitive customer information while maintaining user privacy. The solutions developed would be integrated into CipherTrace’s Travel Rule Information Sharing Architecture. Read More...


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