PR Newswire
10 Oct 2023, 20:25 GMT+10
![]() |
SINGAPORE, Oct. 10, 2023 /PRNewswire/ -- VerifyVASP has successfully verified transfers of virtual assets worth US$ 100 billion through its scalable, immediate and secure Travel Rule platform, as of 8 October 2023.
In light of the increasing number of countries enforcing Travel Rule and ongoing discussions surrounding sunrise and other related issues, VerifyVASP's successful processing of US$ 100 billion in transactions is compelling evidence that meeting the Financial Action Task Force (FATF) requirements and expectations regarding Travel Rule is attainable at scale.
VerifyVASP has reached this milestone whilst maintaining its steadfast commitment to safeguarding sensitive customer information and upholding strict compliance with data protection laws and regulations.
US$ 100 billion in transactions is a substantial metric to assess the effectiveness of VerifyVASP in the context of the Guiding Questions for Virtual Asset Service Providers (VASPs) as outlined in FATF's Targeted Update from June 2023.
The following checklist summarises VerifyVASP's capabilities:
|
|
|
|
|
|
|
|
|
|
Seek information on the counterparty VASP to allow the |
|
|
|
|
|
Get a daily dose of Singapore Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Singapore Star.
More InformationPUERTO PRINCESA, Philippines: A Chinese ship got stuck in shallow waters near a Philippine-controlled island in the disputed South...
Nearly three months after a devastating earthquake struck Myanmar, the country remains trapped in a deepening crisis, compounded by...
HONG KONG: In a bid to tackle its declining birth rate, China will soon require all major hospitals to offer epidural anesthesia during...
WARSAW, Poland: Poland held a second round of voting in its presidential election on Sunday, but exit polls show the race is too close...
WEST JERUSALEM, Israel: Israeli forces stopped a boat heading to Gaza and detained Greta Thunberg and other activists on board early...
MELBOURNE, Australia: A second embryo mix-up in just two months has pushed one of Australia's largest IVF providers back into the spotlight,...
MUMBAI/LONDON: Fast-fashion giant Shein and India's Reliance Retail are preparing to transform India into a significant global supply...
BURBANK, California: Warner Bros Discovery is officially breaking itself in two. In a move that signals a major pivot for the media...
NEW YORK, New York - U.S. stocks closed modestly lower Wednesday despite a tentative trade agreement between the United States and...
Throughout human history, zoonotic diseases, illnesses that jump from animals to humans, have shaped civilizations, triggered pandemics,...
WASHINGTON, D.C.: A boom in U.S. solar energy installations may be running out of steam as shifting federal priorities, new tariffs,...
NEW YORK CITY, New York: Oil prices remained steady on June 9 as investors looked ahead to the outcome of the U.S.-China trade talks...