November 16 2019
Kenneth Blanco, director of the FinCEN (Financial Crimes Enforcement Network), said recently that the rules would be strictly imposed by the U.S. government that require the firms engaged in cryptocurrency money service businesses, to share data about their customers.
As a part of anti-money laundering guidelines, “Travel Rule” specifies cryptocurrency exchanges to confirm their client’s identities, to identify initial parties and recipients of transfers for 3,000 dollars or higher and transmit that data to other parties if they exist.
