Asian Countries Leading the Way for FATF Travel Rule
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CoolBitX Founder Michael Ou believes regulators in Asia are leading the way when it comes to compliance with the Financial Action Task Force (FATF) travel rule, which is due to be implemented in June.
The startup has developed a solution to the travel rule, called Sygna Bridge, which allows exchanges to communicate the identities of the senders and receivers of each transaction.
On May 7 it announced it had conducted a series of cross-border transfer tests that demonstrated Sygna Bridge’s effectiveness in complying with the FATF guidelines by verifying transactions against the names of known terrorists and drug dealers.
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