The European Parliament may soon decide whether to approve a proposal to expand a “travel rule” for crypto firms that would include virtually every single transaction. The travel rule is an anti-money laundering (AML) rule that also applies to traditional banking. It basically compels financial institutions to provide certain information about the sender and the recipient in a transaction, like date of birth, ID or account number.
The EU Parliament has proposed to remove a 1,000-euro threshold below which crypto exchanges wouldn’t be obliged to collect and provide this information. This would mean that, if approved, crypto exchanges would have to report every single crypto transaction regardless of the amount. Ajinkya Tulpule, chief compliance officer at crypto exchange bitFlyer, told PYMNTS in an interview that this measure seems excessive, but it is nonetheless likely to be approved.
“A lot of exchanges have lobbied hard against it, as you can imagine, but from what I heard from a...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...